=XGLHVHP%XFK
'HU QRUPDOH /HVHU GHQNW EHL GHP :RUW ©0DJLHª DQ 6FKZDU]H 0HVVHQ 7HXIHOVEHVFKZ|UXQJHQ XQG +...
112 downloads
1325 Views
2MB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
=XGLHVHP%XFK
'HU QRUPDOH /HVHU GHQNW EHL GHP :RUW ©0DJLHª DQ 6FKZDU]H 0HVVHQ 7HXIHOVEHVFKZ|UXQJHQ XQG +H[HQVDEEDW 'D 0DJLH NDXP HWZDV GDPLW ]X WXQ KDW HUOlXWHUW ,VUDHO 5HJDUGLH HLQH GHU JU|WHQ $XWRULWlWHQ DXI GLHVHP *HELHW LQ GLHVHP JUXQGOHJHQGHQ %XFK (U HUNOlUW ZDV 0DJLH ZLUNOLFK LVW QlPOLFK HLQH 0HWKRGH ]XU (QWZLFNOXQJ GHV K|KHUHQ 6HOEVW XQG ZLH VLH IXQNWLRQLHUW (U EHVFKUHLEW HLQIDFKH 7HFKQLNHQ GLH MHGHP HLQHQ =XJDQJ ]X GHQ HLJHQHQ LQQHUHQ .UlIWHQ HUP|JOLFKHQ (U OLHIHUW HLQH SUl]LVH (LQ IKUXQJ LQ GLH .DEEDOD GLH JURH ZHVWOLFKH *HKHLPOHKUH XQG HQWKOOW HLQLJH LKUHU YHUERUJHQHQ %RWVFKDIWHQ ,Q HLQHP ZHLWHUHQ .DSLWHO ELHWHW HU HLQH QLFKW DQ HLQH EHVWLPPWH *ODXEHQVULFKWXQJ JHEXQGHQH $QOHLWXQJ ]XU 0HGLWDWLRQ ,P OHW]WHQ 7HLO OLHIHUW HU HLQIDFKH DEHU KRFK ZLUNVDPH 0HWKRGHQ ]XU +HLOXQJ GLH PDQ IU VLFKVHOEVWXQGDQGHUHEHQXW]HQNDQQ ,Q GLHVHP %XFK VFKHQNW XQV 5HJDUGLH GLH (VVHQ] VHLQHU HLJHQHQ (UIDKUXQJHQ GLH HU LP /DXIH VHLQHV ODQJHQ GHU 0DJLH JHZLGPHWHQ /HEHQVJHPDFKWKDW
,VUDHO5HJDUGLH
'LH(OHPHQWH GHU0DJLH
(LQH(LQIKUXQJLQGLH0DJLH .DEEDODXQG0HGLWDWLRQ
$XVGHP(QJOLVFKHQYRQ 7KHR.LHUGRUIXQG+LOGHJDUG+|KU
,65$(/ 5(*$5',( ZDU HLQHV GHU EHNDQQWHVWHQ 0LWJOLHGHU GHV
HQJOLVFKHQ *HKHLPRUGHQV ©7KH *ROGHQ 'DZQª ,Q VHLQHP GUHLElQGLJHQ:HUN©'DVPDJLVFKH6\VWHPGHV*ROGHQ'DZQªKDWHU DOOH .HQQWQLVVH XQG hEHUOLHIHUXQJHQ GLHVHV 2UGHQVQLHGHUJHOHJW XQG YHU|IIHQWOLFKW
WUDQVIRUPDWLRQ
URURURWUDQVIRUPDWLRQ +HUDXVJHJHEHQYRQ%HUQG-RVWXQG -XWWD6FKZDU]
8PVFKODJJHVWDOWXQJ3HWHU.HOOHU 8PVFKODJLOOXVWUDWLRQ6WHIDQ.LHIHU
,QKDOWVYHU]HLFKQLV ,'LH.XQVWXQG%HGHXWXQJGHU0DJLH
'LH.XQVWGHU0DJLH'LH=LHOHGHU 0DJLH5HOLJLRQXQG0DJLH 'LYLQDWLRQ:DKUVDJHNXQVW *HRPDQWLH7DURWXQG$VWURORJLH (YRNDWLRQ 'LH3HUVRQLIL]LHUXQJYRQ.RPSOH[HQ'HU 3UR]HGHU(YRNDWLRQ9LVLRQ 'DVK|FKVWH6DNUDPHDW ,QYRNDWLRQ,QLWLDWLRQ
'HU6LQQGHU0DJLH:LVVHQVFKDIW XQG0DJLH'HILQLWLRQHQGHU 0DJLH'DV8QEHZXWH'LH HQGRSV\FKLVFKH%DUULHUH .RQ]HQWUDWLRQXQG(PRWLRQ 0DJLHXQG.DEEDOD 'DV$VWUDOH/LFKWXQGGDVNROOHNWLYH8QEHZXWH ([SHULPHQWHOOH9HULIL]LHUXQJ'LH5HDOLWlWGHU 0DJLH
'HXWVFKH(UVWDXVJDEH 9HU|IIHQWOLFKWLP5RZRKOW7DVFKHQEXFK9HUODJ*PE+ 5HLQEHNEHL+DPEXUJ0lU] 'LH2ULJLQDODXVJDEHHUVFKLHQEHL7KRUVRQV3XEOLVKLQJ*URXS :HOOLQJERURXJK(QJODQGXQWHUGHP7LWHO ©)RXQGDWLRQVRI3UDFWLFDO0DJLHª &RS\ULJKWE\,VUDHO5HJDUGLH &RS\ULJKWE\5RZRKOW7DVFKHQEXFK9HUODJ*PE+ $OOH5HFKWHYRUEHKDOWHQ 6DW]7UXPS0HGLDHYDO30D/LQRWURQLF *HVDPWKHUVWHOOXQJ&ODXVHQ %RVVH/HFN 3ULQWHGLQ*HUPDQ\ ,6%1O
0DJLHLQ2VWXQG:HVW 'LHZLFKWLJVWHQ7KHPHQ GHU0DJLH 2EMHNWLYH0LYHUVWlQGQLVVH *RWWHVIRUPHQ 'LH5ROOHGHV.ODQJVEHLPDJLVFKHQ$QUXIXQJHQ 'DVNDEEDOLVWLVFKH.UHX] /DPDLVPXVXQGGLH(XFKDULVWLH 'LH0DJLHGHU7DOLVPDQH .RQVHNUDWLRQ:HLKXQJ 'LHWLEHWLVFKHQ0\VWHULHQVSLHOH
'LH5ROOHGHV,FK 'DV5LWXDOGHV8QJHERUHQHQ*HLVWHV 7KHXUJLHXQGVSLULWXHOOH(QWZLFNOXQJ ,,.DEEDODIU$QIlQJHU
(LQ)KUHU]XP/HEHQVEDXPIU/DLHQ .RPPHQWDUHXQGhEHUVHW]XQJHQ'HU /HEHQVEDXP'LH2UJDQLVDWLRQYRQ :LVVHQ'LH]HKQ6HSKLURWK'LHYLHU :HOWHQ'DV3HQWDJUDPPDWRQ.HWKHU &KRNPDK%LQDK&KHVHG*HEXUDK 7LSKDUHWK1HW]DFK+RG -HVRG0DONXWK'LHVLVWGLH:DKUKHLW EHUGDV6HOEVW ,,,0HGLWDWLRQ
(LQHPRGHUQH$QQlKHUXQJ DQHLQHXUDOWH:LVVHQVFKDIWXQG.XQVW *HLVWHVWUDLQLQJ :DUXPPHGLWLHUHQ" 'LH0DFKWGHU0HGLWDWLRQ +DOWXQJ .|USHUEHZXWVHLQ =ZHLIHOXQGbQJVWH 'LH5ROOHGHUHWKLVFKPRUDOLVFKHQ9HUKDOWHQVUHJHOQ 6W|UIDNWRUHQ 5HOLJLRVLWlW ,QWURVSHNWLRQ
'LH9HUZHQGXQJHLQHV.DVVHWWHQUHFRUGHUV 'HUYHUERUJHQH,QKDOWGHV%HZXWVHLQV 'DV$EOHLWHQJHLVWLJHU(QHUJLH 0DQWUDV :LHPDQPLWHLQHP0DQWUDEW 0DQWUDVIU$WKHLVWHQXQG$JQRVWLNHU 'LHHUVWH6WXIH $WPHQ 'LH0DFKWGHV5K\WKPXV 'HQ*HLVW©IHVVHOQª 'LH:LUNXQJOlQJHUHU.RQ]HQWUDWLRQ $XHUNUDIWVHW]HQGHV,FK +\SHUYHQWLODWLRQ .RDQV $WHPYHUKDOWXQJ :HLWHUH$WHPWHFKQLNHQ (QHUJLH]LUNXODWLRQ 9LVXDOLVLHUHQYRQ2EMHNWHQ 'LH$QZHQGXQJYRQ+\SQRVH 'LHK|FKVWH(LQKHLW ,9'LH.DEEDODGHU=DKOHQXQG%HGHXWXQJHQ
(LQH(LQIKUXQJLQGLH3UD[LVNDEEDOLVWLVFKHU%HUHFKQXQJHQ (LQIDFKH*HPDWULD1RWDULNRQ 'DV1RWDULNRQYRQ7HQDFK'LH *HPDWULDYRQ©$PHQª©5XDFK (ORKLPª3DUDGLHV1DPHQ *RWWHV$*/$XQG$5$5,7$ ,15, 'LH6\PEROLNGHV+HU]HQVXQGGHU6FKODQJH,$2 ([HJHWLVFKH$QDO\VH'LH )DPD)UDWHUQLWDWLV=XP $EVFKOX
9'LH.XQVWGHVZDKUHQ+HLOHQV
,'LH.XQVWXQG%HGHXWXQJGHU0DJLH
7HLO 8QJHQXW]WH(QHUJLH 6WU|PH:DVLVW (UVFK|SIXQJ"'LHHUVWHQEHLGHQ6FKULWWH]XU *HVXQGKHLW5K\WKPXV 0HQWDOHXQGVSLULWXHOOH=HQWUHQ 'HQNHQ)DUEHXQG.ODQJ'LH .URQVSKlUH'DV/XIW]HQWUXP 'DV)HXHU]HQWUXP'DV :DVVHU]HQWUXP'DV(UG]HQWUXP )DUEHQWVSUHFKXQJHQ
7HLO :LHPDQGLH(QHUJLH]LUNXODWLRQDQUHJW )RNXVVLHUHQGHU(QHUJLH =XVDPPHQIDVVXQJ'LH9RUEHUHLWXQJHQ *HEHW 1LFKWWKHUDSHXWLVFKH$QZHQGXQJHQ 'LH9HUZHQGXQJGHUDVWURORJLVFKHQ6WUXNWXU 'LH9HUZHQGXQJYRQDVWURORJLVFKHQ(QWVSUHFKXQJHQ 6HOEVWDQDO\VH
O'LH.XQVWGHU0DJLH
8QWHU DOOHQ 7KHPHQ LP %HUHLFK GHVVHQ ZDV KHXW]XWDJH DOV 2NNXO WLVPXV EH]HLFKQHW ZLUG LVW GLH 0DJLH GDV DP KlXILJVWHQ XQG DP KHIWLJVWHQ PLYHUVWDQGHQH 6HOEVW GLH $OFKLPLH GLH HLQLJHQ DOV LQ lUJHUOLFKHU :HLVH REVNXU HUVFKHLQW VW|W LP DOOJHPHLQHQ DXI ZH VHQWOLFK PHKU 6\PSDWKLH XQG 9HUVWlQGQLV DOV GLH 0DJLH %HLVSLHOV ZHLVH VDJW GHU 3V\FKRORJH & * -XQJ LQ VHLQHU 6FKULIW 'LH %H]LH KXQJ]ZLVFKHQGHP,FKXQGGHP8QEHZXWHQ
©(VZlUHQDWUOLFKHLQXQY HU]HLKOLFKHU,UUWXPZHQQPDQQDFKODQGOlX ILJHU $XIIDVVXQJ GLH DOFK\PLVFKH! *HLVWHVVWU|PXQJ DXI 5HWRUWHQ XQG 6FKPHO]|IHQUHGX]LHUHQZROOWH*HZLGLHVH6HLWHKDWVLHDXFKQlP OLFK GLHWDVWHQGHQ$QIlQJHGHUH[DNWHQ&KHPLH$EHUVLHKDWDXFKHLQH QLFKW ]X XQWHUVFKlW]HQGH SV\FKRORJLVFK QRFK JDQ] XQJHQJHQG DXVJH ZHUWHWH JHLVWLJH6HLWH
0HUNZUGLJHUZHLVH HUIlKUW GLH 0DJLH NHLQH HEHQVROFKH :UGL JXQJ DEJHVHKHQ GDYRQ GD GHU %HJULII 0DJLH PLW GHP 8QEHZX WHQ LQ 9HUELQGXQJ JHEUDFKW ZLUG XQG JHVDJW ZLUG VLH VWHOOH HLQHQ SULPLWLYHQ 9HUVXFK GDU GDV 8QEHZXWH ]X EHJUHLIHQ 'HVKDOE LVW NDXP PHKU DOV HLQ PLQLPDOHU 9HUVXFK JHPDFKW ZRUGHQ GLH PDJL VFKHQ3UR]HVVH]XYHUVWHKHQ,FKP|FKWHLP$XJHQEOLFNQLFKWGLH O&*OXQJ'DV,FKXQGGDV8QEHZXWH-*:%G6
HYHQWXHOOHQ *UQGH IU GLHVH HUVWDXQOLFKH 7DWVDFKH DQDO\VLHUHQ 6DFKGLHQOLFKHU HUVFKHLQW HV PLU HLQHQ HLQLJHUPDHQ JDQJEDUHQ :HJ ]XP 9HUVWlQGQLV GLHVHU 7KHPDWLN ]X VFKDIIHQ DXI GD YRUDXVJHVHW]WHLQDQIlQJOLFKHU6WUDKOKHOOHQ/LFKWVGXUFKIOXWHWGLH :HOWGHU0DJLH PHKU0HQVFKHQGDV%HGUIQLVYHUVSUHQP|JHQ HLQZHQLJYRQLKUHQ(QHUJLHQXQGLKUHU=HLWGHP6WXGLXPGHU0DJLH ]XZLGPHQ'LH9RUWHLOHXQGGHU1XW]HQGLHGLHVPLWVLFKEULQJHQ NDQQVLQGVRJHZDOWLJGDVLFKGLH0KHLQK|FKVWHP0DHORKQHQ ZUGH 'LH=LHOHGHU0DJLH
(LQIDFK XQG LQ DOOHU .U]H P|FKWH LFK JOHLFK ]X $QIDQJ VDJHQ GD VLFK GLH :HOW GHU 0DJLH LP ZHVHQWOLFKHQ PLW GHU :HOW GHU PR GHUQHQ 3V\FKRORJLH GHFNW 'LH 0DJLH EHVFKlIWLJW VLFK PLW MHQHU 6SKlUH GHU 3V\FKH GHUHQ ZLU XQV QRUPDOHUZHLVH QLFKW EHZXW VLQG REZRKO VLH HLQHQ XQJHKHXUHQ (LQIOX DXI XQVHU /HEHQ KDW 'LH 0DJLH LVW HLQ 6\VWHP SV\FKRORJLVFKHU 7HFKQLNHQ GLH XQV KHOIHQ N|QQHQ XQVHU ,QQHUHV WLHIHU ]X HUIRUVFKHQ 'RFK ZR]X" =XQlFKVW HLQPDO GDPLW ZLU OHUQHQ XQV LQ XPIDVVHQGHUHU :HLVH VHOEVW ]X YHUVWHKHQ $EJHVHKHQ GDYRQ GD HLQH VROFKH 6HOEVW .HQQWQLV VFKRQ DQ VLFK ZQVFKHQVZHUW LVW EHIUHLW XQV HLQ 9HU VWlQGQLV XQVHUHU LQQHUHQ 1DWXU YRQ XQEHZXWHQ =ZlQJHQ XQG 0RWLYDWLRQHQ XQG HUP|JOLFKW XQV GLH 0HLVWHUXQJ XQVHUHV /HEHQV =ZHLWHQV HUP|JOLFKW XQV GLH (UIRUVFKXQJ XQVHUHV ,QQHUHQ MHQHV LQQHUH6HOEVW LQ VWlUNHUHP0DHLQXQVHUHQDOOWlJOLFKHQ $NWLYLWlWHQ ]XP $XVGUXFN ]X EULQJHQ (UVW ZHQQ GLH 0HQVFKKHLW DOV *DQ]HV HLQHQ JHZLVVHQ *UDG GHU 9HUZLUNOLFKXQJ HUUHLFKW KDW RGHU YLHOOHLFKW GDQQ ZHQQ GLH IRUWJHVFKULWWHQHUHQ 0lQQHU XQG )UDXHQ DXI GHU :HOW LKQ HQWZLFNHOW KDEHQ GUIHQ ZLU MHPDOV DXI HLQH LGHDOH XWRSLVFKH (QWZLFNOXQJ GHU :HOWVLWXDWLRQ KRIIHQ DXI ZHLWJHKHQGH 7ROHUDQ] DXI )ULHGHQ XQG DXI XQLYHUVDOH 9HUEUGH UXQJ'LHVHP=LHOYHUGDQNWGLH0DJLHLKUH'DVHLQVEHUHFKWLJXQJ
5HOLJLRQXQG0DJLH
:HQQ ZLU XQV XQVHUHP 7KHPD DXV HLQHP DQGHUHQ %OLFNZLQNHO QlKHUQ N|QQWHQ ZLU VDJHQ GD GLH 0DJLH VLFK PLW GHQ JOHLFKHQ 3UREOHPHQ EHVFKlIWLJW ZLH GLH 5HOLJLRQ 6LH YHUJHXGHW MHGRFK LKUH EH]LHKXQJVZHLVH XQVHUH ZHUWYROOH =HLW QLFKW PLW IUXFKWORVHQ 6SHNXODWLRQHQ EHU GLH ([LVWHQ] RGHU EHU GDV :HVHQ *RWWHV 9LHOPHKU EHVWlWLJW VLH GRJPDWLVFK GD HV HLQ DOOJHJHQZlUWLJHV XQG HZLJHV /HEHQVSULQ]LS JLEW XQG EHVFKUHLEW HLQH 9LHO]DKO YRQ 0H WKRGHQ PLW GHUHQ +LOIH PDQ GLHV VHOEVW EHUSUIHQ NDQQ :LH N|QQHQ ZLU *RWW HUNHQQHQ" $XFK GLHV N|QQHQ ZLU HUJUQGHQ PLWWHOV HLQHU SUl]LVHQ XQG ZRKOGXUFKGDFKWHQ 0HWKRGH ]XP 8PJDQJPLWGHPPHQVFKOLFKHQ%HZXWVHLQDOVVROFKHPVRZLH]XU (UKHEXQJ GHVVHOEHQ ]X HLQHU XQPLWWHOEDUHQ (UIDKUXQJ GHV XQLYHUVDOHQ *HLVWHV GHU DOOH 'LQJH GXUFKGULQJW XQG VLH HUKlOW ,FK P|FKWHDXVGUFNOLFKEHWRQHQGDGLH7HFKQLNHQGHU0DJLHSUl]LVH ZLUNHQ XQG ZRKOGXUFKGDFKW VLQG GHQQ GLHVHV 6\VWHP KDW HLQH $EQHLJXQJ JHJHQ GLH +DOWXQJ MHQHU JXWPWLJHQ DEHU ZHQLJ VFKDUIVLQQLJHQ 'HQNHU GLH LQGHP VLH VLFK ZHLJHUQ LKUH PHQVFK OLFKHQ *UHQ]HQ VR ZLH VLH GHU]HLW VLQG ]X DN]HSWLHUHQ ]X KRFK KLQDXVZROOHQ RKQH VLFK PLW GHQ YLHOIlOWLJHQ 3UREOHPHQ DXI GHP :HJ]XPDQJHVWUHEWHQ=LHODXVHLQDQGHUVHW]HQ]XZROOHQ 1HKPHQ ZLU DQ GRUW GUEHQ VWHKW HLQ *HElXGH GDV ]HKQ 6WRFNZHUNH KRFK LVW :LH N|QQHQ ZLU GDV 'DFK HUUHLFKHQ" 6L FKHUOLFK QLFKW LQGHP ZLU GLH Y|OOLJ RIIHQVLFKWOLFKH 7DWVDFKH LJQRULHUHQ GD ]ZLVFKHQ XQV XQG GHP 'DFK PLQGHVWHQV 0HWHU OLHJHQ 'RFK GDV JHQDX LVW GLH +DOWXQJ MHQHU $QKlQJHU GHU P\ VWLVFKHQ 5HOLJLRQ GLH IU HLQH P|JOLFKVW ZHLWJHKHQGH 9HUHLQ IDFKXQJ GHU 'LQJH HLQWUHWHQ *RWW VR EHKDXSWHQ GLHVH /HXWH VHL HLQHUKDEHQHU=XVWDQGGHVXQHQGOLFKHQ%HZXWVHLQVPLWZHOFKHP GHU PLNURNRVPLVFKH PHQVFKOLFKH *HLVW YHUHLQLJW ZHUGHQ PVVH 6R ZHLW VR JXW ELV ]X GLHVHP 3XQNW VWLPPW GLH 0DJLH PLW GHU $QVFKDXXQJ MHQHU 9HUHLQIDFKHUQRFKEHUHLQ'RFKVFKODJHQGLHVH /HXWH YRUPDQ VROOHGHQ*LSIHOGHV(UUHLFKEDUHQDQVWUHEHQLQGHP PDQ GLH 6FKULWWH ]ZLVFKHQ GHP 0HQVFKHQ VR ZLH HU ]XU =HLW LVW XQGGHPK|FKVWHQ=LHO *RWW HLQIDFKLJQRULHUW'DVLVWHWZDVRDOV ZROOWHQ VLH YRP (UGERGHQ ]XP 'DFK GHV HEHQ HUZlKQWHQ *HElXGHV VSULQJHQ 'LH+DOWXQJGHU0DJLHLVWHLQHHWZDVDQGHUH-HGRFKlKQHOWVLH
GHV 8QEHZXWHQ GXUFK GDV JHZ|KQOLFKH :DFKEHZXWVHLQ LVW VR ZLUGGXUFKGLHVH0HWKRGHQGHU0DJLHGHU*HLVWVLFKVHLQHUVHOEVW DOV XQHQGOLFK YLHO ZHLWHU WLHIHU XQG ZHLVHU EHZXW DOV LKP MHPDOV ]XYRU NODU JHZHVHQ LVW 'HU *HLVW HQWZLFNHOW HLQ *HIKO IU GHQ VSLULWXHOOHQ$VSHNWGHU'LQJHHLQ*HIKOIUGLHHLJHQHDQJHERUHQH KRKH :HLVKHLW VRZLH HLQH (UNHQQWQLV GHV *|WWOLFKHQ GDV GXUFK GHQ0HQVFKHQXQGGXUFKGDV8QLYHUVXPZLUNW'LHVH$QVFKDXXQJ HUKHEWGLH'LYLQDWLRQEHUGLH(EHQHGHUEORHQRNNXOWHQ.XQVW]X HLQHPZHVHQWOLFKHQ7HLOGHVP\VWLVFKHQ%HVWUHEHQV *HRPFPWLH7DURWXQG$VWURORJLH
'LHV VLQG GLH JUXQGOHJHQGHQ 7HFKQLNHQ GHV GLYLQDWRULVFKHQ 6\ VWHPV 'LH *HRPDQWLH LVW 'LYLQDWLRQ PLWWHOV GHU (UGH )UKHU HLQPDO EHQXW]WHQ GLH *HRPDQWHQ WDWVlFKOLFK 6DQG RGHU VFKZDU]H (UGH LQ ZHOFKH VLH 6LJLOOHQ XQG 6\PEROH ]HLFKQHWHQ HLQH W\SLVFK SULPLWLYH RGHU PLWWHODOWHUOLFKH 0HWKRGH +HXWH EHQXW]HQ *HR PDQWHQ %OHLVWLIW XQG 3DSLHU XQG VWHOOHQ PLWWHOV GHV *UDSKLWV LQ LKUHQ %OHLVWLIWHQ WKHRUHWLVFK HLQH PDJLVFKH 9HUELQGXQJ ]ZL VFKHQ VLFK VHOEVW XQG GHQ VRJHQDQQWHQ GLYLQDWRULVFKHQ ,QWHOOL JHQ]HQ RGHU (OHPHQWDUZHVHQ GHU (UGH KHU 6RZHLW LFK DXV HLJHQHU (UIDKUXQJ ]X VDJHQ YHUPDJ LVW GLHV HLQH KRFKZLUNVDPH 7HFKQLN XQG LFK NDQQ EHVWlWLJHQ GD VLH LP /DXIH PHKUHUHU IDKUH LQ DFKW]LJ 3UR]HQWGHU)lOOH]XWUHIIHQGH(UJHEQLVVHJHEUDFKWKDW 7DURWLVWGHU1DPHHLQHV.DUWHQVSLHOVPLWDFKWXQGVLHE]LJ.DUWHQ GLH HQWZHGHU LP YLHU]HKQWHQ RGHU LP IQI]HKQWHQ -DKUKXQGHUW LQ (XURSD HLQJHIKUW ZXUGHQ ,KU 8UVSUXQJ LVW HLQ ELVKHU XQJHO|VWHV *HKHLPQLV 'LH7DURWNDUWHQ H[LVWLHUWHQ LQ (XURSD SUDNWLVFK QLFKW ELVVLHLUJHQGZDQQJDQ]SO|W]OLFKEHUDOODXIWDXFKWHQ hEHUGLH$VWURORJLHEUDXFKHLFKQLFKWYLHO ]XVDJHQGDVLHVHLW ODQJHP HLQH GHU SRSXOlUVWHQ 0HWKRGHQ GHU 'LYLQDWLRQ LVW -HGHU GHU GLHVH 0HWKRGHQ PLW GHU YRQ PLU ZHLWHU REHQ EHVFKULHEHQHQ =LHOVHW]XQJ SUDNWL]LHUW ZLUG PLW 6LFKHUKHLW ]X GHQ YRQ PLU HEHQIDOOV EHVFKULHEHQHQ 5HVXOWDWHQ JHODQJHQ 8QG ZlKUHQG GLH MHQLJHQ GLH GHQ 5DW HLQHV 3UDNWLNHUV VXFKHQ XQG DXVJH]HLFKQHWH $QWZRUWHQDXILKUH)UDJHQHUKDOWHQVHLQ+DXVLQ'DQNEDUNHLWXQG
VWDXQHQGYHUODVVHQVWHOOWIULKQVHOEVWGLHHLJHQHLQWXLWLYH(QW ZLFNOXQJGHQZLFKWLJHUHQ7HLOMHQHU7UDQVDNWLRQGD (YRNDWLRQ
:HQQ ZLU GDV UHODWLY VLPSOH 5HLFK GHU 'HYLQDWLRQ YHUODVVHQ XP XQV GHP VFKZHUHU YHUVWlQGOLFKHQ 7KHPD GHU (YRNDWLRQ ]X]X ZHQGHQ NRPPHQ ZLU LQ WLHIHUHV )DKUZDVVHU ,Q GLHVHP %HUHLFK KDW PDQ GHU 0DJLH GLH JU|WHQ 6FKZLHULJNHLWHQ EHUHLWHW 8QG LP =XVDPPHQKDQJ PLW GLHVHU (UVFKHLQXQJVIRUP GHU 0DJLH KDEHQ VLFK DXFK GLH JU|WHQ 0LYHUVWlQGQLVVH XQG GLH JU|WH )XUFKW HQWZLFNHOW 8P GLH 7KHPDWLN ]X HUKHOOHQ P|FKWH LFK QRFK HLQPDO DXI GLH PRGHUQH SV\FKRORJLVFKH 7HUPLQRORJLH ]XUFNJUHLIHQ 'HU %HJULII ©.RPSOH[ª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lIW OHLWHW LQ GHP LFK 0LOFK NDXIH ZLUG DXIJUXQG LKUHU EHUXIOLFKHQ 9RUHLQJH QRPPHQKHLW HLQHQ .RPSOH[ HQWZLFNHOQ LQ GHVVHQ 0LWWHOSXQNW 0LOFK.KHXQG%XWWHUVRZLHGHU(LHUSUHLVVWHKHQ hEHU GLHVH 'HILQLWLRQ GHV .RPSOH[HV KLQDXVJHKHQG JLEW HV HLQH VXEWLOHUH GLH EHVDJW GD HLQ .RPSOH[ HLQH *UXSSH YRQ ,GHHQ XQG *HIKOHQ LVW GLH VLFK XP HLQ EHGHXWHQGHV RGHU EHKHUUVFKHQGHV SV\FKLVFKHV 7KHPD JUXSSLHUHQ HWZD XP 6H[ RGHU XP GDV %H GUIQLV 0LQGHUZHUWLJNHLWVJHIKOH ]X EHUZLQGHQ RGHU HLQH SV\ FKLVFKH 9HUOHW]XQJ DXV GHU .LQGKHLW GLH SV\FKLVFKH (QHUJLH ELQGHW RGHU EORFNLHUW ,QIROJH YRQ 9HUGUlQJXQJ HLQHV .RPSOH[HV GHVVHQ ([LVWHQ] GHU 3HUVRQ QLFKW LP JHULQJVWHQ EHZXW LVW NDQQ HU VLFK LQ HLQHP *HIKO GHU 8QVLFKHUKHLW LQ %HVHVVHQVHLQ YRQ EHUVWHLJHUWHQ XQG YHUQXQIWZLGULJHQ bQJVWHQ VRZLH LQ VWlQGLJHQ $QJVWJHIKOHQ lXHUQ$XHUGHPNDQQHLQH.RQVWHOODWLRQYRQ*HIKOHQ
6WLPPXQJHQXQGHPRWLRQDOHQ5HDNWLRQHQVRPlFKWLJZHUGHQXQG GHP 9HUVWDQG VR XQDQJHQHKP VHLQ GD VLH YRP +DXSWWHLO GHU 3HUV|QOLFKNHLWY|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lPRQ YRQ 7LSKDUHWK EH]HLFKQHQ GHVVHQ 1DPH 6RUDV VHLQ VROO GD GLH 6RQQH HLQV VHLQHU $WWULEXWH XQG $VVR]LDWLRQHQDOVSODQHWDUHV6\PEROGHU,QGLYLGXDOLWlWJLOW'HVKDOE N|QQWH HLQ QLHGHUJHVFKODJHQHU =XVWDQG GHU 3HUV|QOLFKNHLWZDV PDQ DOV YHUDOOJHPHLQHUQGH RGHU JUREH 'HILQLWLRQ GHV 0LQ GHUZHUWLJNHLWVJHIKOV JHOWHQ ODVVHQ N|QQWH DOV 6RUDV EH]HLFKQHW ZHUGHQ GD GLH 'lPRQHQ GLH GHQ YHUVFKLHGHQHQ 6HSKLURWK ]XJH RUGQHW ZHUGHQ DOV E|VH JHOWHQ 'HU .RPSOH[ GHU VLFK LQ )RUP DOOJHPHLQHU 8QVLFKHUKHLW DXVGUFNW LVW GHU 'lPRQ YRQ-HVRG XQG GHV 0RQGHV GHVVHQ 1DPH+DVPRGDL LVW 'LH 6SKlUH YRQ-HVRG UHSUlVHQWLHUW GLH DVWUDOH )RUP RGHU *UXQGODJH GLH SK\VLVFKHQ *HVWDOWHQ XQG )RUPHQ 6WDELOLWlW XQG 'DXHU YHUOHLKW HLQ 6\PERO IU 6LFKHUKHLW XQG 6WlUNH :HQQ GLH (PRWLRQHQ YRP %HZXWVHLQ HLQHV 0HQVFKHQ DEJHVSDOWHQ VLQG VR LVW GLHV DXI GHQ (LQIOX GHV 'lPRQVYRQ-RGXQG0HUNXU 7DSKWKDUWKDUDWK ]XUFN]XIKUHQ :HQQMHPDQGVLFKLQHPRWLRQDOHP&KDRVVXKOWXQGVLFKVWDQGKDIW ZHLJHUW %HZXWVHLQ XQG UDWLRQDOH )lKLJNHLWHQ HEHQVRVWDUN ]X HQWZLFNHOQ VR XQWHUOLHJW HU GHP (LQIOX GHV 'lPRQV YRQ 1HW]DFK XQG 9HQXV +DQLHO (LQH UHLQ GHVWUXNWLYH XQG VXL]LGDOH 1HXURVH GLH GD]X IKUW GD HLQ 0HQVFK GDV 6\PSWRP HQWZLN NHOW DEVLFKWOLFK 'LQJH ]X ]HUVW|UHQ RGHU VLFK VHOEVW ]X YHUOHW]HQ XQWHUOLHJW GHP (LQIOX GHV *HLVWHV YRQ 0DUV XQG *HEXUDK 6D PXHO 'LHV LVW QDWUOLFK GLH VXEMHNWLYH 6LFKW ,FK NDQQ QLFKW OHXJQHQ GDHVDXFKHLQHUHLQREMHNWLYH7KHRULHGHU+LHUDUFKLHJLEWGRFK NDQQLFKGLHVHKLHUQLFKWEHKDQGHOQ
:LHYHUIDKUHQZLUKHXW]XWDJHZHQQZLUYHUVXFKHQ1HXURVHQ]X NXULHUHQ" :LH EHIUHLHQ ZLU GDV 'HQNHQ XQG )KOHQ HLQHV 3DWLHQWHQ GDYRQ" 3ULQ]LSLHOO EHGLHQHQ ZLU XQV GD]X GHU DQDO\WLVFKHQ 0HWKRGH :LU HUPXWLJHQ GHQ 3DWLHQWHQ IUHLPWLJ VHLQH /HEHQV JHVFKLFKWH ]X HU]lKOHQ XQG GHWDLOOLHUW VHLQH IUKHQ (UIDKUXQJHQ PLW 9DWHU XQG 0XWWHU ]X VFKLOGHUQ DXHUGHP VHLQH 5HDNWLRQHQ DXI %UGHU XQG 6FKZHVWHUQ DXI GLH 6FKXOH DXI 6SLHONDPHUDGHQ XQGDXIGLHJHVDPWH8PZHOW'HU3DWLHQWZLUGDXIJHIRUGHUWEHVRQGHUV EHU VHLQH HPRWLRQDOHQ 5HDNWLRQHQ DXI GLHVH IUKHQ (UIDKUXQJHQ ]X EHULFKWHQ VLH LQ VHLQHU 9RUVWHOOXQJ QRFK HLQPDO ]X GXUFKOHEHQVHLQH*HIKOHJHJHQEHUGHQ*HVWDOWHQVHLQHU.LQGKHLW ]X EHVFKUHLEHQ XQG ]X DQDO\VLHUHQ $XHUGHP ZHUGHQ GLH 7UlXPH GHV 3DWLHQWHQ VRUJIlOWLJ XQWHUVXFKW 'LHV LVW QRWZHQGLJ ZHLO GHU 7UDXP HLQH VSRQWDQH SV\FKLVFKH $NWLYLWlW LVW GLH QLFKW GHP (LQIOX GHV :DFKEHZXWVHLQV XQWHUOLHJW 'LH 7UDXPDNWLYLWlW HQWKOOW GLH ]XU =HLW GHV 7UDXPV DNWXHOOHQ XQEHZXWHQ 5HDN WLRQHQ DXI 6WLPXOL GHV JHJHQZlUWLJHQ /HEHQV 5HDNWLRQHQ GLH GLH EHZXWH $QVFKDXXQJ GHV %HWURIIHQHQ PRGLIL]LHUHQ RGHU VRJDU PDJHEOLFK IRUPHQ $XI GLHVH :HLVH ZLUG HV GHP 3DWLHQWHQ HU P|JOLFKW GLH $UW HLQHV .RPSOH[HV REMHNWLY ]X HUNHQQHQ (U PX VLFK IU HLQH NXU]H =HLWVSDQQH YRQ VHLQHP .RPSOH[ DENRSSHOQ 'LHVH NULWLVFKH REMHNWLYH 8QWHUVXFKXQJ GHV .RPSOH[HV GLHVHV 9HUVWHKHQ VHLQHU 1DWXU XQG GHU $UW ZLH HU HQWVWDQGHQ LVW HU P|JOLFKWHVGHP3DWLHQWHQ QLFKWHLQIUDOOHPDOVRQGHUQDOOPlKOLFK XQG LP /DXIH GHU =HLW GHQ .RPSOH[ DXV VHLQHP 'HQNHQ ]X HQWIHUQHQ 'LH 0DJLH KLQJHJHQ EHGLHQWH VLFK HLQPDO HLQHU HWZDV DQGHUHQ 7HFKQLN $XFK LKU ZDU GLH YHUKHHUHQGH :LUNXQJ GLHVHU ]ZDU QD WUOLFKHQ DEHU SHUYHUWLHUWHQ $UWHQ ]X GHQNHQ EHNDQQW XQG DXFK GHUHQVFKZlFKHQGH:LUNXQJDXIGLH3HUV|QOLFKNHLW 8QHQWVFKORVVHQKHLW :DQNHOPXW *HGlFKWQLVVFKZlFKH %HWlX EXQJ GHU *HIKOH XQG 6LQQH =ZlQJH XQG 3KRELHQ VRZLH HLQH 8QPHQJHN|USHUOLFKHUXQGFKDUDNWHUOLFKHU.UDQNKHLWHQVLQG)ROJHQ MHQHU .RPSOH[H RGHU MHQHU %HKHUUVFKXQJHQ GXUFK 'lPRQHQ 'HU 3DWLHQW LVW TXlOHQGHQ 6WLPPXQJHQ LQ VROFKHP 0DH DXVJHOLHIHUW GDHUGHQ(LQGUXFNJHZLQQWGLHVHZUGHQVLFKDXHUKDOEYRQLKP EHILQGHQZDVGLHOHEKDIWH3KDQWDVLHGHU0HQVFKHQIUKHUHU=HLWHQ HLQH WDWVlFKOLFKH %HVHVVHQKHLW YRQ HLQHP lXHUHQ *HLVWZHVHQ YHUPXWHQOLH8PGLHXUVSUQJOLFKH/HLVWXQJVIlKLJ
NHLWGHVEHWURIIHQHQ0HQVFKHQRGHUVHLQH1RUPDOLWlWZLHGHUKHU ]XVWHOOHQPXWHGDV%HZXWVHLQYRQGLHVHQ%HHLQWUlFKWLJXQJHQ EHIUHLWZHUGHQ 'LH3HUVRQLIL]LHUXQJYRQ.RPSOH[HQ
$OV HUVWHV PDFKWH VLFK GLH 0DJLH GDUDQ GLH .RPSOH[H ]X SHUVR QLIL]LHUHQLKQHQHLQHIDEDUH*HVWDOWXQG)RUPVRZLHHLQHQ1DPHQ ]XJHEHQXQGLKQHQHLQHEHVWLPPWH(LJHQVFKDIW]X]XVFKUHLEHQ(V OLHJW LQ GHU 1DWXUGHU PHQVFKOLFKHQ 3V\FKHLKUHQ,QKDOWHQVSRQWDQ PHQVFKOLFKH(LJHQVFKDIWHQ]X]XVFKUHLEHQXQGLKQHQHLQHQ1DPHQ ]X JHEHQ 'HQ ©RIIL]LHOOHQ 6HJHQª IU LKUH 0HWKRGH HUKlOW GLH 0DJLH EULJHQV YRQ NHLQHU JHULQJHUHQ $XWRULWlW GHUPRGHUQHQ 3V\FKRORJLH DOV 'U ** -XQJ ,Q VHLQHP .RPPHQWDU ]XGHP FKLQHVLVFKHQ 7H[W'DV *HKHLPQLV GHU JROGHQHQ %OWH EH]HLFKQHW -XQJ GLHVH .RPSOH[H DOV ©DXWRQRPH 7HLOV\VWHPHª %H]JOLFK GLHVHU7HLOV\VWHPHVWHOOWHUIHVW ©6LH VLQG HEHQ DXFK .RQVWLWXHQWHQ GHU SV\FKLVFKHQ 3HUV|QOLFKNHLW XQG PVVHQ GDUXP 3HUV|QOLFKNHLWVFKDUDNWHU KDEHQ 6ROFKH 7HLOV\VWHPH ILQGHQ VLFK QDPHQWOLFK EHL *HLVWHVNUDQNKHLWHQ EHL GHQ SV\FKRJHQHQ 3HUV|QOLFKNHLWVVSDOWXQJHQ GRXEOH SHUVRQQDOLWH XQG JDQ] JHZ|KQOLFK EHLGHQPHGLXPLVWLVFKHQ3KlQRPHQHQª
(V HQWVSULFKW ZLH LFK EHUHLWV VDJWH HLQHU QDWUOLFKHQ 7HQGHQ] GHV PHQVFKOLFKHQ *HLVWHV GLHVH .RPSOH[H RGHU .RQJORPHUDWH YRQ VSH]LILVFKHQ 9RUVWHOOXQJHQ ]X SHUVRQLIL]LHUHQ $OV ZHLWHUHQ %H ZHLV KLHUIU N|QQHQ ZLU GDV 3KlQRPHQ GHU 7UlXPH DQIKUHQ LQ GHQHQ GLH SV\FKLVFKHQ 3UREOHPH YRQ 3DWLHQWHQ KlXILJ V\PEROLVFK HLQHPHQVFKOLFKHRGHUWLHULVFKH*HVWDOWDQQHKPHQ 'LH DOWH :LVVHQVFKDIW GHU 0DJLH JLQJ QRFK HLQHQ 6FKULWW ZHLWHU LQGHP VLH EHKDXSWHWH XP GLHVH .RPSOH[H DXI]XO|VHQ PVVH PDQ VLH GHP %HZXWVHLQ GHV 3DWLHQWHQ RGHU $GHSWHQ ]XJlQJOLFK PD FKHQ GDPLW LKP GDV 9RUKDQGHQVHLQ GHV .RPSOH[HV EHUKDXSW EHZXW ZHUGH 6RODQJH GLHVH XQEHZXWHQ HPRWLRQDOHQ .QRWHQ RGHUDVWUDOHQ*HLVWHUGHP3DWLHQWHQXQEHNDQQWVLQGLVWGLHVHU & * -XQJ.RPPHQWDU ]X ©'DV *HKHLPQLV GHU*ROGHQHQ%OWHª-*: 6
QLFKW LQ GHU (DJH VLH ]X VHLQHP HLJHQHQ %HVWHQ ]X OHQNHQ VLH VRUJIlOWLJ ]X XQWHUVXFKHQ VRZLH GHQ HLQHQ ]X DN]HSWLHUHQ XQG GHQ DQGHUHQ DE]XOHKQHQ =XHUVW VR ODXWHWH GLH +\SRWKHVH PVVHQ VLH HLQH JUHLIEDUH XQG REMHNWLYH )RUP DQQHKPHQ EHYRU PDQ DXI VLH (LQIOX QHKPHQ NDQQ 6RODQJH VLH XQJUHLIEDU XQG DPRUSK EOHLEHQ XQG YRP ,FK QLFKW ZDKUJHQRPPHQ ZHUGHQ LVW HV QLFKW P|JOLFK DXI DGlTXDWH :HLVH PLW LKQHQ XP]XJHKHQ 'XUFK IRUPDOH (YR NDWLRQMHGRFK N|QQHQ GLH *HLVWHU GHU GXQNOHQ 8QWHUZHOW RGHUGLH .RPSOH[H YRQ 9RUVWHOOXQJHQ ZHOFKH GLH WLHIHUHQ 6FKLFKWHQ GHV 8QEHZXWHQ EHY|ONHUQ LP PDJLVFKHQ 'UHLHFN GHU 0DQLIHVWDWLRQ DXV GHP 'XQNHO LQ GHQ %HUHLFK GHU VLFKWEDUHQ (UVFKHLQXQJ EHVFKZRUHQ ZHUGHQ 'DGXUFK LVW HV P|JOLFK GLHVH :HVHQKHLWHQ GLH VLFK QXQ LP :LUNXQJVEHUHLFK GHV VWLPXOLHUWHQ :LOOHQV XQG %HZXWVHLQV GHV 7KHXUJHQ EHILQGHQ PLWWHOV WUDQV]HQGHQWDOHU 6\PEROH VRZLH PLWWHOV PDJLVFKHU 3UR]HVVH ]X EH]ZLQJHQ 6LH VLQG QXQ NHLQH XQDEKlQJLJHQ *HLVWHU PHKU GLH LQ GHU DVWUDOHQ :HOW XPKHUVFKZHLIHQ RGHU 7HLOV\VWHPH GLH GDV %HZXWVHLQ GHV %H WURIIHQHQLQVFKZHUHP0DHVW|UHQ9LHOPHKUZHUGHQVLHZLHGHULQ GLH 3HUV|QOLFKNHLW LQWHJULHUW ZR VLH VR]XVDJHQ ]X QW]OLFKHQ %UJHUQ ZHUGHQ LQWHJUDOHQ %HVWDQGWHLOHQ GHU 3V\FKH VWDWW ZHL WHUKLQ *HVHW]HVEUHFKHU XQG *DQJVWHU ]X EOHLEHQ HUELWWHUWH XQG JHIlKUOLFKH )HLQGH GLH GLH SV\FKLVFKH (LQKHLW XQG ,QWHJULWlW EH GURKHQ 'HU3UR]HGHU(YRNDWLRQ
:LH JHKW QXQ GLH (YRNDWLRQ YRQVWDWWHQ" :LH JHQDX VLHKW GDV 9HUIDKUHQ DXV PLWWHOV GHVVHQ GLHVH DXWRQRPHQ 7HLOV\VWHPH JH ]ZXQJHQ ZHUGHQ HLQH JUHLIEDUH )RUP DQ]XQHKPHQ" 9RQ KLHU DE JHKHQ 0DJLH XQG RUWKRGR[H 3V\FKRORJLH JHWUHQQWH :HJH 0RQD WHODQJH DQVWUHQJHQGH $QDO\VH YHUEXQGHQ PLW HQRUPHQ .RVWHQ HUIRUGHUW GLH KHXWLJH SV\FKRORJLVFKH 0HWKRGH XP GHUDUWLJH 3UR EOHPH ]X EHZlOWLJHQ XQG QXU ZHQLJH 0HQVFKHQ VLQG VWDUN RGHU JHGXOGLJ JHQXJ XP HLQH VROFKH %HKDQGOXQJ GXUFK]XKDOWHQ 'LH PDJLVFKH7KHRULHKLQJHJHQ]LHKWHLQHGUDVWLVFKH)RUPHPRWLRQDOHU XQG PHQWDOHU (UUHJXQJ PLWWHOV HLQHU ]HUHPRQLHOOHQ 7HFKQLN YRU :lKUHQG GHU (YRNDWLRQV]HUHPRQLH ZHUGHQ LP 5DKPHQ HLQHU ODQJZLHULJHQ%HVFKZ|UXQJXQXQWHUEURFKHQ*RWWHVQDPHQXQG
1DPHQ YRQ *HLVWHUQ YLEULHUW 8PVFKUHLWXQJHQ =LUNXPDPEXOD WLRQHQ ZHUGHQ YRQ V\PEROLVFKHQ 3RVLWLRQHQ LP 7HPSHO DXV GXUFKJHIKUW OHW]WHUH UHSUlVHQWLHUHQ YHUVFKLHGHQH 6FKLFKWHQ GHV 8QEHZXWHQ YHUVFKLHGHQH %HUHLFKH GHU SV\FKLVFKHQ :HOW /XIW ZLUG LQ GLH /XQJHQ HLQJHDWPHW XQG lKQOLFK ZLH EHL GHQ 3UDQD\D PD7HFKQLNHQ GHU +LQGX
$XI GLHVH :HLVH ZLUG GHU GXUFK GLH *HLVW%HVHVVHQKHLW YHUXUVDFKWH %HZXWVHLQVGHIHNW JHKHLOW XQG ZHJHQ GHU XQJHKHXUHQ HPRWLR QDOHQ .UDIW GLH LQ VROFKHQ 5HSUHVVLRQHQ JHEXQGHQ ZLUG XQG GLH QXQ SO|W]OLFK =XJDQJ ]XP %HZXWVHLQ ILQGHW ZLUG GLH 3V\FKH GHV 0DJLHUV DXI HLQH EHVWLPPWH :HLVH DQJHUHJW MH QDFKGHP YRQ ZHOFKHU$UWGHU*HLVWZDUGHUEHVFKZRUHQZXUGH 8P GDV VRHEHQ %HVFKULHEHQH QRFK HLQPDO ]XVDPPHQ]XIDVVHQ 'HU =ZHFN GHU (YRNDWLRQ LVW HLQHQ 7HLO GHU PHQVFKOLFKHQ 3V\FKH GHULQPHKURGHUZHQLJHUVWDUNHP0DHEHHLQWUlFKWLJWLVWVR]XVDJHQ DEVLFKWOLFK KHUYRU]XKHEHQ 1DFKGHP GLHVHV 7HLOV\VWHP GXUFK GLH 0DFKW GHV VWLPXOLHUWHQ :LOOHQV XQG GHU VWLPXOLHUWHQ ,PDJLQDWLRQ VRZLH GXUFK GLH DXVJHVFKLHGHQH DVWUDOH 6XEVWDQ] .|USHU XQG 1DPHQ HUKDOWHQ KDW ZLUG HV XP GLH 0HWDSKHU ZHLWHU]XIKUHQ VSH]LHOO GXUFK GLH :lUPH XQG 1lKUNUDIW GHU 6RQQH JHQlKUW XQG HUKlOW :DVVHU XQG 1DKUXQJ DXI GD HV ZDFKVHQ XQG HUEOKHQ NDQQ 1DWUOLFK VROOWH PDQ VLFK DQ GLHVH $UW GHU 0DJLH QLFKW XQYRU EHUHLWHW KHUDQZDJHQ 6LH VHW]W JUQGOLFKHV 6WXGLXP XQG HLQ ODQJHV 7UDLQLQJ YRUDXV ,QWHQVLYH XQG EHKDUUOLFKH $UEHLW QDFK HLQHP JHHLJQHWHQ 6\VWHP VLQG HUIRUGHUOLFK EHYRU PDQ VLFK DQ HLQHQ VR VFKZLHULJHQ XQG P|JOLFKHUZHLVH VRJDU JHIlKUOLFKHQ $VSHNW PD JLVFKHU 3UD[LV KHUDQZDJHQ VROOWH 'RFK KDW GLH PDJLVFKH 0HWKRGH JHJHQEHU GHP DQDO\WLVFKHQ 3UR]H 9RUWHLOH :HQQ PDQ GLH 7HFKQLN HLQPDO JHPHLVWHUW KDW XQG PLW GHQ VSH]LHOOHQ $VVR]LD WLRQVSIDGHQ YHUWUDXW LVW IKUW GDV PDJLVFKH 9HUIDKUHQ ]ZHLIHOORV VFKQHOOHU ]XP =LHO XQG LVW DXFK HUKHEOLFK JUQGOLFKHU XQG ZLU NXQJVYROOHU DOV NDWKDUWLVFKHV $JHQV ,FK KRIIH GD XQVHUH 3V\ FKRORJHQ GLHVHV 9HUIDKUHQ HLQHV 7DJHV LQ DEJHZDQGHOWHU )RUP LQ GHU7KHUDSLHHLQVHW]HQZHUGHQ 9LVLRQ
(V JLEW HLQH ZLFKWLJH 9DULDQWHGLHVHU 7HFKQLN GLH DXI GHQ HUVWHQ %OLFN QLFKW YLHO PLWGHU0HWKRGHGHU(YRNDWLRQJHPHLQ]XKDEHQ VFKHLQW 'RFK KDW DXFK VLH GLH QRWZHQGLJH $VVLPLODWLRQ GHV XQ EHZXWHQ ,QKDOWVGHU 3V\FKHLQ GDV QRUPDOH%HZXWVHLQ]XP=LHO $XFK VLH HUZHLWHUW GLH LQWHOOHNWXHOOHQ 9RUVWHOOXQJHQ GHV 6WXGLH UHQGHQEHUGLH1DWXUGHV8QLYHUVXPV
'LH *UXQGWHFKQLN GLHVHU 0HWKRGH HUIRUGHUW GD PDQ IDUELJH 6\PEROH GHU (OHPHQWH (UGH /XIW :DVVHU )HXHU XQG bWKHU ]HLFKQHW RGHU PDOW -HGHP GLHVHU (OHPHQWH LVW HLQ DQGHUHV WUDGL WLRQHOOHV 6\PERO XQG HLQH DQGHUH )DUEH ]XJHRUGQHW %HLP (OHPHQW (UGH LVW HV HLQ JHOEHV 4XDGUDW %HLGHU /XIW LVW HV HLQ EODXHU .UHLV %HLP :DVVHU LVW HV HLQVLOEHUQHU +DOEPRQG %HLP)HXHU HLQURWHV 'UHLHFN XQG EHLP (OHPHQW bWKHU HLQ VFKZDU]HV (L1DFKGHP PDQ HLQLJH 6HNXQGHQ ODQJ LQWHQVLY GDV 6\PERO HLQHV EHVWLPPWHQ (OHPHQWHV DQJHVWDUUW XQG GHQ %OLFN GDQQ DXI HLQH ZHLH RGHU QHXWUDOH 2EHUIOlFKH JHOHQNW KDW VLHKW PDQ HLQ 5HIOH[ELOG GHU HQWVSUHFKHQGHQ.RPSOHPHQWlUIDUEH'LHVLVWHLQHQRUPDOHRSWLVFKH 7lXVFKXQJ GHU IU VLFK JHQRPPHQ NHLQH EHVRQGHUH %HGHXWXQJ ]XNRPPW 1DFKGHP GHU EHVFKULHEHQH RSWLVFKH 5HIOH[ HQWVWDQGHQ LVW ZLUG GHU 6FKOHU JHEHWHQ GLH $XJHQ ]X VFKOLHHQ XQG ]X LPDJLQLHUHQ GD VLFK YRU LKP GLH V\PEROLVFKH )RUP XQG GLH .RPSOHPHQWlUIDUEHGHVEHQXW]WHQ(OHPHQWVEHILQGHW'DQQVROOHU GLH )RUP VR ODQJH YHUJU|HUQ ELV HU GHQ (LQGUXFN KDW HU N|QQH GXUFK VLH KLQGXUFKJHKHQ 'DUDXIKLQ PX HU VHLQHU 3KDQWDVLH XQJHKLQGHUWHQ /DXI ODVVHQ %HVRQGHUV ZLFKWLJ LVW GD HU LQ GLHVHP 6WDGLXPEHVWLPPWHJ|WWOLFKH1DPHQYRQ(U]HQJHOQYLEULHUWGLHGLH 7UDGLWLRQGHPEHWUHIIHQGHQ6\PERO]XRUGQHW'LHVH1DPHQVLQGLP HUVWHQ%DQGPHLQHV:HUNV'DVPDJLVFKH6\VWHPGHV*ROGHQ'DZQ ]XILQGHQ $XI GLHVH :HLVH WULWW GHU 3UDNWLNHU LPDJLQDWLY RGHU KHOOVLFKWLJ PLWWHOV HLQHU 9LVLRQ LQ GDVMHQLJH (OHPHQWDUUHLFK HLQ GDV GHU 1DWXU GHV JHZlKOWHQ 6\PEROV HQWVSULFKW ,QGHP HU VR QDFKHLQDQGHU PLW DOOHQ (OHPHQWHQ YHUIlKUW JHZLQQW HU HLQHQ V\PSDWKHWLVFKHQ .RQWDNW ]XP 9HUVWlQGQLV GHU LQ GHU 1DWXU H[LVWLHUHQGHQ KLHUDU FKLVFKHQ(EHQHQXQGHUZHLWHUWVRGLH6SKlUHVHLQHV%HZXWVHLQVLQ XQJHKHXUHP0DH $XV SV\FKRORJLVFKHU 6LFKW N|QQWHQ ZLU GLH PDJLVFKH 7KHRULH VR YHUVWHKHQ GD GDV 8QEHZXWH GDV KlXILJ PLW GHQ QHXQ =HKQWHOQ HLQHV (LVEHUJV GLH XQVLFKWEDU XQWHU GHU :DVVHUREHUIOlFKH OLHJHQ YHUJOLFKHQ ZLUG LQ IQI +DXSWVFKLFKWHQ XQWHUWHLOW ZHUGHQ NDQQ 'LHVH IQI (EHQHQ HQWVSUHFKHQ GHQ IQI (OHPHQWHQ YRQ ZHOFKHQ GLH(UGHGHU2EHUIOlFKHDPQlFKVWHQXQGGDVWLHIVWHGHUbWKHURGHU ,VUDHO5HJDUGLH'DVPDJLVFKH6\VWHPGHV*ROGHQ'DZQ %G,,,,9HUODJ +HUPDQQ%DXHU)UHLEXUJL%U
GHU J|WWOLFKH *HLVW LVW 'LHVH 9LVLRQV RGHU 3KDQWDVLHEXQJ HU P|JOLFKW HV GHP JHZ|KQOLFKHQ %HZXWVHLQ GHV .DQGLGDWHQ GLH DQVRQVWHQ XQEHUZLQGEDUH %DUULHUH ]ZLVFKHQ %HZXWVHLQ XQG 8QEHZXWHP ]X EHUZLQGHQ (LQH 9HUELQGXQJ ]ZLVFKHQ ]ZHL $VSHNWHQGHV*HLVWHVZLUGKHUJHVWHOOWHLQH%UFNHZLUGJHVFKODJHQ EHU ZHOFKH GLH 3V\FKH LQ MHGHP $XJHQEOLFN YRQ HLQHP LQ GHQ DQGHUHQ %HUHLFK EHUZHFKVHOQ NDQQ 'DV %HWUHWHQ GLHVHU YHU VFKLHGHQHQ (EHQHQ GHU 3V\FKH PLWWHOV LPDJLQDWLYHU 3URMHNWLRQ HQWVSULFKW GHU %LOGXQJ HLQHV $VVR]LDWLRQVSIDGHV PLWWHOV GHVVHQ 9RUVWHOOXQJHQ ,QVSLUDWLRQHQ XQG 9LWDONUlIWH GHP %HZXWVHLQ ]XJlQJOLFKJHPDFKWZHUGHQ 'LH VR HQWVWDQGHQH 9LVLRQ lKQHOW HLQHU $UW 7UDXP ZHOFKHU MHGRFK LP =XVWDQG YROOHQ :DFKEHZXWVHLQV HUIDKUHQ ZLUG LQ HLQHP =XVWDQG LQ GHP NHLQH )lKLJNHLW GHV %HZXWVHLQV ZLH GHU :LOOH GLH .ULWLNIlKLJNHLW XQG GLH 6FKlUIH GHU :DKUQHKPXQJ LQ LUJHQGHLQHU :HLVH EHHLQWUlFKWLJW LVW 9RP V\QWKHWLVFKHQ XQG NRQ VWUXNWLYHQ 6WDQGSXQNW DXV JHVHKHQ ZLUG GDV =LHO GHU $QDO\VH DXI GLHVH:HLVHVHKUVFKQHOOHUUHLFKW(LQJURHV6SHNWUXPGHV:LVVHQV XQG GHU *HIKOH ZLUG DXI GLHVH :HLVH ]XJlQJOLFK JHPDFKW XQG DVVLPLOLHUW RKQH 0KH XQG RKQH 6FKZLHULJNHLWHQ XQG ]XP9RUWHLO GHUVSLULWXHOOHQ(QWZLFNOXQJGHV,QGLYLGXXPV (LQZLFKWLJHU)DNWRULVWDXFKGLH,QWHUSUHWDWLRQGHU9LVLRQ:LUGGLH ,QWHUSUHWDWLRQ YHUQDFKOlVVLJW VR NDQQ GDV ]X MHQHU LQWHOOHNWXHOOHQ 6WHULOLWlW XQG VSLULWXHOOHQ /HHUH IKUHQ GLH PDQ VR KlXILJ EHL 0HQVFKHQ EHREDFKWHQ NDQQ GLH lKQOLFKH 0HWKRGHQ SUDNWL]LHUHQ ,Q GLHVHP =XVDPPHQKDQJ NDQQ HLQH 9HUWUDXWKHLW PLW -XQJV 0HWKRGHQ GHU $QDO\VH YRQ 6\PEROHQ GLH LQ 7UlXPHQ XQG VSRQWDQHQ 3KDQWDVLHQ DXIWDXFKHQ YRQ JURHP 1XW]HQ VHLQ HLQH QW]OLFKH (UJlQ]XQJ ]XP NDEEDOLVWLVFKHQ %H]XJ GHU 6\PEROH ]X GHQ ]HKQ 6HSKLLRWK GHV /HEHQVEDXPV %HYRU LFK PLW PHLQHU 'DUVWHOOXQJ IRUWIDKUH P|FKWH LFK HV QLFKW YHUVlXPHQ ]X HUZlK QHQ GD -XQJ JHJHQ (QGH VHLQHV %XFKHV =ZHL 6FKULIWHQ EHU DQDO\WLVFKH 3V\FKRORJLHEHU GLH VSRQWDQH 3KDQWDVLH HLQHV 3DWL HQWHQ EHULFKWHW GLH DXI HLJHQWPOLFKH :HLVH GHU VRHEHQ EH VFKULHEHQHQ 7DWWZD7HFKQLN lKQHOW (U VSULFKW YRQ HLQHU ©9LVLRQ! GLH HLQIDFK GXUFK LQWHQVLYH .RQ]HQWUDWLRQ DXI GHQ %HZXWVHLQV KLQWHUJUXQGZDKUJHQRPPHQZLUGZDVDOOHUGLQJVHUVWVWDWWILQGHQ $QGHUQRUWVYRQ-XQJDOVDNWLYH,PDJLQDWLRQ EH]HLFKQHW
NDQQZHQQOlQJHUHhEXQJYRUDQJHJDQJHQLVWª0LUHUVFKHLQW GLHVHU%HULFKWVRLQWHUHVVDQWGDLFKLKQKLHU]LWLHUHQP|FKWH
©,FK VWLHJGHQ%HUJKLQDQXQGNDP]XHLQHP2UWHZRLFKVLHEHQURWH 6WHLQH YRU PLU MH VLHEHQDXI EHLGHQ6HLWHQ XQGVLHEHQ KLQWHUPLU VDK,FK VWDQGLP=HQWUXP GLHVHV9LHUHFNV'LH6WHLQHZDUHQIODFKZLH6WXIHQ ,FKYHUVXFKWHGLHYLHUQlFKVWHQ6WHLQHDXI]XKHEHQ'DEHLHQWGHFNWH LFK GDGLHVH6WHLQH3LHGHVWDOHZDUHQYRQYLHU*|WWHUVWDWXHQGLHNRSI XQWHULP %RGHQ EHJUDEHQ ZDUHQ ,FK JUXE VLH DXV XQG ULFKWHWH VLHXP PLFKKHU DXI VR GD LFK LQ LKUHU 0LWWH VWDQG 3O|W]OLFK VHQNWHQ VLH VLFK JHJHQHLQDQGHUXQGEHUKUWHQVLFKPLWGHQ.|SIHQVRGDVLHQXQHWZDV ZLHHLQ=HOWEHUPLU IRUPWHQ,FKVHOEHUILHO]X%RGHQXQGVDJWH)DOOW DXIPLFKZHQQLKUPW,FKELQPGH 'DVDKLFKGDDXHQXPGLH YLHU *|WWHU HLQ .UHLV YRQ )ODPPHQ VLFK JHELOGHW KDWWH 1DFK HLQLJHU =HLW HUKRE LFK PLFK ZLHGHU YRP %RGHQ XQG ZDUI GLH *|WWHUVWDWXHQ XP :R VLH DXI GHQ %RGHQ ILHOHQ ZXFKVHQ YLHU %lXPH 'DUDXI VFK|VVHQ LP )HXHUNUHLVEODXH)ODPPHQHPSRUZHOFKHDQILQJHQGDV/DXEGHU%lXPH]X YHUEUHQQHQ:RUDXILFKVDJWH'DVPXHLQ(QGHQHKPHQLFKVHOEHU PX LQV )HXHU KLQHLQJHKHQ VR GD GDV /DXE QLFKW YHUEUDQQW ZLUG 'DUDXI WUDWLFKLQV)HXHUKLQHLQ'LH%lXPHYHUVFKZDQ GHQXQGGHU)HXHUNUHLV ]RJ VLFK ]XVDPPHQ LQ HLQH HLQ]LJH JURH EODXH )ODPPH GLH PLFK YRP %RGHQHPSRUKREª
'DVK|FKVWH6DNUDPHQW
'LYLQDWLRQ (YRNDWLRQ XQG 9LVLRQ VLQG GLH YRUEHUHLWHQGHQ 7HFK QLNHQ GHU 0DJLH :LUKDEHQ VRHEHQ HUIDKUHQ ZDUXP HV PHKU DOV JHUHFKWIHUWLJW LVW VLFK LKUHU ]X EHGLHQHQ LQVRIHUQ HLQ DQJHPHV VHQHV 9HUVWlQGQLV LKUHV 6LQQV VRZLH DXFK GHU UHLQ WHFKQLVFKHQ 9HUIDKUHQVZHLVH YRUKDQGHQ LVW 'RFK GLHV VLQG QXU GLH YRUEHUHL WHQGHQ 0HWKRGHQ 6LH VLQG QLFKWV ZHLWHU DOV 6FKULWWH GLH ]XP 9ROO]XJGHVK|FKVWHQ6DNUDPHQWVIKUHQ'DVXQYHUPHLGOLFKH=LHO GHU 0DJLH LVW LGHQWLVFK PLW GHPMHQLJHQ GHU 0\VWLN QlPOLFKGLH 9HUHLQLJXQJPLW GHU *RWWKHLW 'LH0DJLHEHJUHLIWGLH*RWWKHLWDOV J|WWOLFKHQ*HLVWDOV/LFKWXQGDOV/LHEH HLQHEHUDOODQ]XWUHIIHQGH XQGDOOJHJHQZlUWLJH/HEHQVNUDIWGLHDOOH'LQJHGXUFKIOXWHW &*-XQJ©'DV,FKXQGGDV8QEHZXWHª-*:%G6
XQGGLHDOOHV/HEHQYRPNOHLQVWHQ(OHNWURQELV]XMHQHQXQYRUVWHOOEDU ULHVLJHQ NRVPLVFKHQ 1HEHOQHUKlOW 'LHVHV/HEHQ LVWGHU.HLPERGHQ GHU *HVDPWKHLW GHU ([LVWHQ] XQG LQ GLHVHP 8UEHZXWVHLQ OHEHQ XQG EHZHJHQ ZLU XQV XQG VLQG ZLU ,P /DXIH GHU 0DQLIHVWDWLRQ HQWZLFNHOQ VLFK LQQHUKDOE GLHVHU *UHQ]HQORVLJNHLW NRVPLVFKH =HQWUHQ =HQWUHQ YRQ HUKDEHQHU ,QWHOOLJHQ] XQG 0DFKW ZRGXUFK GLH NRVPLVFKH +RFKVSDQQXQJ XPJHZDQGHOW XQG KHU XQWHUWUDQVIRUPLHUW ZHUGHQ NDQQ VR GD VFKOLHOLFK HLQH REMHNWLYH 0DQLIHVWDWLRQHQWVWHKW'LHVHNRVPLVFKHQ=HQWUHQGHV/HEHQVVLQG GDV ZDV ZLU IU GHQ $XJHQEOLFN DOV *|WWHU QLFKW DOV *HLVWHU EH]HLFKQHQ ZROOHQ :HVHQ YRQ XQJHKHXUHU :HLVKHLW 0DFKW XQG (UKDEHQKHLW GLH HLQH DXIVWHLJHQGH KLHUDUFKLVFKH /LQLH ]ZLVFKHQ XQV XQG GHP XQEHNDQQWHQ XQG QDPHQORVHQ *RWW ELOGHQ ,KUH H[DNWH +LHUDUFKLH ZLUG LQ GHU PDJLVFKHQ 7KHRULH LP .ODVVLILNDWL RQVV\VWHPGHVNDEEDOLVWLVFKHQ/HEHQVEDXPVGDUJHVWHOOW ,Q HLQHP IUKHUHQ $EVFKQLWW KDEH LFK GLH 0HWDSKHU HLQHV 0DQQHV DQJHIKUW GHU YHUVXFKW GDV 'DFK HLQHV PHKUVW|FNLJHQ *HElXGHV]XHUUHLFKHQ'LH0DJLHVLHKWGLHVSLULWXHOOH(QWZLFNOXQJ DXI lKQOLFKH :HLVH 'DV KHLW VLH YHUVWHKW GLH SHUV|QOLFKH (YROXWLRQ DOV HLQHQ SURJUHVVLY XQG JHRUGQHW YHUODXIHQGHQ 9RUJDQJ :LU GLHMHQLJHQ GLH GDV P\VWLVFKH ,GHDO LQ (KUHQ KDOWHQ EHILQGHQ XQV XQWHQ DXI GHP %RGHQ :LUN|QQHQ GHQ*LSIHOQLFKWPLWHLQHP 6SUXQJ HUUHLFKHQ 'D]X PVVHQ ZLU ]XQlFKVW GLH GD]ZLVFKHQOLH JHQGH'LVWDQ]EHUZLQGHQ8PGDV'DFK]XHUUHLFKHQPVVHQZLU HQWZHGHU HLQH 7UHSSH RGHU HLQHQ $XI]XJ EHQXW]HQ 0LWWHOV GHU PDJLVFKHQ 7HFKQLN UXIHQ ZLU *|WWHU DQ GLH PHWDSKRULVFK DXI GLH 7UHSSHQ RGHU DXI GHQ /LIW UHDJLHUHQ XQG VXFKHQ GLH 9HUHLQLJXQJ PLW LKUHP K|KHUHQ XQG XPIDVVHQGHUHQ %HZXWVHLQ 'D VLH GLH YHUVFKLHGHQHQ NRVPLVFKHQ (EHQHQ GHU (QHUJLH XQG GHV *HLVWHV UHSUlVHQWLHUHQ GLH ]ZLVFKHQ XQV XQG GHP K|FKVWHQ =LHO OLHJHQ QlKHUQ ZLU XQV XP VR PHKU GHU OHW]WHQ 4XHOOH XQG :XU]HO DOOHU 'LQJH DOV ZLU XQV LQ /LHEH XQG (KUHUELHWXQJPLW LKQHQ YHUHLQLJHQ XQGXQVLKQHQKLQJHEHQ ,QYRNDWLRQ
'HU0DJLHUEHQXW]WGHQ3ODQGHV/HEHQVEDXPVDOV/HLWIDGHQXQG LQYR]LHUWGLHQLHGHUHQ*|WWHURGHUGLH(U]HQJHOZLHVLHLQHLQHP
DQGHUHQ6\VWHPJHQDQQWZHUGHQZHLOHUGDQDFKVWUHEWVHLQHLJHQHV /HEHQPLWGHPK|KHUHQXQGXPIDVVHQGHUHQ/HEHQGHU*|WWHU]X YHUHLQHQXQGLKQHQVHLQHLJHQHV6HLQ]XEHUDQWZRUWHQ$XIGLHVH :HLVHZLUGVHLQHVSLULWXHOOH:DKUQHKPXQJYHUIHLQHUWXQG VHQVLELOLVLHUWXQGVHLQ%HZXWVHLQJHZ|KQWVLFKLP/DXIHGHU=HLWDQ GLH©+RFKVSDQQXQJªGHUJ|WWOLFKHQ.UDIWGLHLKQGXUFKIOLHW:HQQ VHLQHLQQHUH(YROXWLRQZHLWHUIRUWVFKUHLWHWLQYR]LHUWHUGHQ*RWWGHU 6HSKLUDKRGHU(EHQHGLHVLFKXQPLWWHOEDUEHUVHLQHPPRPHQWDQHQ =XVWDQGEHILQGHW$XIGLHJOHLFKH:HLVHYHUVXFKWHUVHLQHHLJHQH (VVHQ]]XDVVLPLOLHUHQVHLQHLJHQHVLQWHJULHUWHV%HZXWVHLQPLWGHP GHU*RWWKHLW]XYHUHLQHQGLHHULQYR]LHUWKDW6RIlKUWHUIRUWELVHU VFKOLHOLFKDXIGHPHUKDEHQHQ*LSIHOVSLULWXHOOHU5HDOLVDWLRQVWHKW YHUHLQLJWPLWGHPWUDQV]HQGHQWHQ/HEHQGHU8QHQGOLFKNHLWLP *HIKOXQLYHUVHOOHU/LHEHXQGXQLYHUVHOOHQ(UEDUPHQVLP %HZXWVHLQVHLQHU,GHQWLWlWPLWDOOHP/HEHQXQGDOOHQ'LQJHQ DXVJHVWDWWHWPLWK|FKVWHU9LVLRQXQG0DFKW:LH-DPEOLFKXVGHU QHXSODWRQLVFKH7KHXUJHVHLQPDODXVGUFNWH©:HQQGLH(VVHQ]XQG 3HUIHNWLRQDOOHV*XWHQLQGHQ*|WWHUQHQWKDOWHQLVWZHQQLKUH XUDQIlQJOLFKH0DFKWPLWXQV3ULHVWHUQLVW>GKPLWGHQ7KHXUJHQRGHU 0DJLHUQ@XQGZHQQGLHMHQLJHQGLHDXIlKQOLFKH:HLVHQDFKHLQHU 9HUHGHOXQJLKUHV:HVHQVXQGQDFKGHUZDKUHQ9HUHLQLJXQJPLWGHQ *|WWHUQVWUHEHQGHQ$QIDQJXQGGDV(QGHDOOHV*XWHQDXIHUQVWH :HLVHYHUIROJHQ ZHQQGLHVDOOHVGHU)DOOLVWVRLVWGDULQGLH .RQWHPSODWLRQGHU:DKUKHLWXQGGHU%HVLW]GHULQWHOOHNWXHOOHQ :LVVHQVFKDIW]XILQGHQ8QGHLQH:LVVHQVFKDIWYRQGHQ*|WWHUQJHKW HLQKHUPLWGHU.HQQWQLVXQVHUHUVHOEVWª6RZHLWGLH7KHRULH'RFK ZDVEHLQKDOWHWGLH.XQVWGHU,QYRNDWLRQ"'LHZLFKWLJVWH5ROOHVSLHOW GDEHLGLH,PDJLQDWLRQVIlKLJNHLW'LHVHPXGD]XWUDLQLHUWZHUGHQ 6\PEROHXQG%LOGHUPLWlXHUVWHU.ODUKHLW/HLFKWLJNHLWXQG 3Ul]LVLRQ]XYLVXDOLVLHUHQ'LHVLVWQRWZHQGLJZHLOVSlWHUJHZLVVH PHLVWlJ\SWLVFKH *RWWHVIRUPHQYLVXDOLVLHUWZHUGHQPVVHQ bJ\SWLVFKH*|WWHUZLH2VLULV,VLV+RUXVXQG1XLWVFKHLQHQVLFK GXUFKHLQHJHZLVVH(LQGHXWLJNHLWDXV]X]HLFKQHQZHVKDOEVLHVLFKIU GLHVH$UWYRQ7UDLQLQJEHVRQGHUVHLJQHQ,QHLQHPDQGHUHQ6\VWHP LQGHPDQGLH6WHOOHYRQ*|WWHUQ(U]HQJHOWUHWHQZHUGHQ)RUPHQ YLVXDOLVLHUWDXIJUXQGHLQHU$QDO\VHYRQHLQ]HOQHQ%XFKVWDEHQGLH HLQHQ1DPHQ*RWWHVEHLQKDOWHQ,PKHEUlLVFKHQNDEEDOLVWLVFKHQ 6\VWHPLVWMHGHPKHEUlLVFKHQ%XFKVWDEHQHLQH)DUEH HLQ DVWURORJLVFKHV6\PERO
HLQH GLYLQDWRULVFKH %HGHXWXQJ LQ GHQ 6\VWHPHQ GHV 7DURW XQG GHU *HRPDQWLH VRZLH HLQ (OHPHQW ]XJHRUGQHW %HLP $XIEDX GHV VRJH QDQQWHQ WHOHVPDWLVFKHQ %LOGHV GHV (U]HQJHOV LQ GHU ,PDJLQDWLRQ EHWUDFKWHQ ZLU MHGHQ %XFKVWDEHQ DOV 5HSUlVHQWDWLRQ HLQHV EH VWLPPWHQ 7HLOV RGHU .|USHUJOLHGHV GHU *HVWDOW VRZLH DOV HLQH EH VWLPPWH )RUP (LJHQVFKDIW RGHU )DUEH 6R ZLUG DXV GHQ %XFKVWDEHQ LKUHV 1DPHQV HLQH LQ K|FKVWHP 0DH PLW %HGHXWXQJHQ EHODGHQH XQG©YLHOVDJHQGHª*HVWDOWDXIYROONRPPHQH:HLVHHUVFKDIIHQ 'HU 6FKOHU VLW]W RGHU OLHJW LQ Y|OOLJ HQWVSDQQWHP =XVWDQG LQ GHP NHLQH 6SDQQXQJ GHU 0XVNHOQ RGHU GHU 1HUYHQ LUJHQGHLQH VW|UHQGH %RWVFKDIW ]X VHLQHP *HKLUQ EHUPLWWHOQ NDQQ XQG YHUVXFKW VLFK YRU]XVWHOOHQ GD HLQH EHVWLPPWH *RWWHVIRUP RGHU HLQ WHOHVPDWLVFKHV %LOG LKQ XPJLEW RGHU PLW VHLQHP SK\VLVFKHQ .|USHU ©NRLQ]LGLHUWª 0DQFKPDO JHQJHQ ZHQLJH 0LQXWHQ XP HLQH EHZXWH 5HDOLVDWLRQ GHU 3UlVHQ] ]X HU]HXJHQ DOOHUGLQJV HU IRUGHUW HV JHZ|KQOLFK PLQGHVWHQV HLQH JXWH 6WXQGH XP ]X EUDXFK EDUHQ (UJHEQLVVHQ ]X NRPPHQ :HQQ .RQ]HQWUDWLRQ XQG 5H IOH[LRQ LQWHQVLYHU XQG WLHIHU ZHUGHQ ZLUG GHU .|USHU YRQ 6WU|PHQ G\QDPLVFKHU (QHUJLH XQG 0DFKW YLWDOLVLHUW $XFK GHU *HLVW ZLUG YRQ /LFKW JURHU ,QWHQVLWlW GHV )KOHQV XQG ,QVSLUDWLRQ HUIDW XQG GXUFKGUXQJHQ 8QWHUGHVVHQZLUGGHU1DPHGHV*RWWHVRGHUGHV(U]HQJHOVLPPHU ZLHGHU YLEULHUW LQWRQLHUW 'LHVHV 9LEULHUHQ GLHQW HLQHUVHLWV GD]X GHQ *HLVW PLWWHOV GHU VWlQGLJHQ :LHGHUKROXQJ GDXHUKDIW DXI GLH ,GHDOIRUP ]X NRQ]HQWULHUHQ $QGHUHUVHLWV ZHFNW GDV 9LEULHUHQ LQ GHQ 7LHIHQ GHV PLNURNRVPLVFKHQ %HZXWVHLQV MHQH PDJLVFKH )lKLJNHLW GLH HLQHU PDNURNRVPLVFKHQ .UDIW HQWVSULFKW RGHU PLW LKU YHUZDQGW LVW $XHUGHP ZLUG HLQH UK\WKPLVFKH $WHPWHFKQLN EHQXW]W XP *HLVW XQG .|USHU ]X EHUXKLJHQ XQG XP GLH VXEWLOHUHQ %HUHLFKH GHU LQQHUHQ 1DWXU GHV DOOJHJHQZlUWLJHQ XQG DOOHV GXUFKGULQJHQGHQ /HEHQV ]X |IIQHQ :HLWHUKLQ ZHUGHQ %XFKVWDEHQ GHV 1DPHQV YLVXDOLVLHUW 1DFK GHQ WUDGLWLRQHOOHQ 5HJHOQ ZHUGHQ GLHVH %XFKVWDEHQ YRP *HLVW VR PDQLSXOLHUW GD VLH VLFK LQQHUKDOE GHU *RWWHVIRUP EHZHJHQ XQG JHZLVVH ZLFKWLJH 3RVLWLRQHQ DXI 1HUYHQJHIOHFKWHQ EHVHW]HQ $OOH GLHVH 7HFKQLNHQ ]LHOHQ GDUDXI GDV %HZXWVHLQ GHV 0DJLHUV ]X HUK|KHQ VHLQHQ *HLVW DXI P|J OLFKVWJHUDGHPXQGVLFKHUHP:HJHDXIHLQHVXEWLOHUHLQQHUH(EHQH]X HUKHEHQ DXI ZHOFKHU HU GLH%HGHXWXQJ GLHWUDQV]HQGHQWDOH1DWXU XQGGDV:HVHQGHV*RWWHVZDKU]XQHKPHQYHUPDJ
,QLWLDWLRQ
hEHUDOO GLHVH 0HWKRGHQKLQDXV JLEWHV RGHUJHQDXHUJHVDJWGXUFK LKUH9HUELQGXQJPLWHLQDQGHUHQWVWHKW HLQHOHW]WH6WXIHGHU0DJLH GLHLFKKLHUQXUNXU]EHKDQGHOQP|FKWHGLH,QLWLDWLRQ'LHVHU3UR]H EHUXKW DXI GHU )lKLJNHLW HLQHV DXVJHELOGHWHQ (LQJHZHLKWHQ HLQHQ 7HLO VHLQHU HLJHQHQ ,OOXPLQDWLRQ XQG VHLQHU VSLULWXHOOHQ 0DFKW PLWWHOV HLQHU =HUHPRQLH DXIHLQHQ.DQGLGDWHQ]XEHUWUDJHQ(LQH VROFKH PDJQHWLVFKH .UDIWEHUWUDJXQJ VROO GLH LQQHUHQ )lKLJNHLWHQ GHV .DQGLGDWHQ DQUHJHQ )lKLJNHLWHQ GLH YLHOH WUDXULJH -DKUH JHVFKODIHQ XQG EUDFKJHOHJHQ KDEHQ :LH 3VHOOXV HLQ DQGHUHU 1HXSODWRQLNHUHLQPDOEHUGLH0DJLHEHPHUNWH©,KUH$XIJDEHLVW HV GLH PHQVFKOLFKH 6HHOH GXUFK GLH 0DFKW LUGLVFKHU 0DWHULH ]X LQLWLLHUHQRGHU]XYROOHQGHQGHQQGLHK|FKVWH)lKLJNHLWGHU6HHOH NDQQQLFKWDXIVLFKVHOEVWJHVWHOOWQDFKGHQHUKDEHQVWHQ,QWXLWLRQHQ XQGQDFK9HUVWlQGQLVGHU*RWWKHLWVWUHEHQª 'D GLH J|WWOLFKHQ 8UNUlIWH GHV 0HQVFKHQ YHUGXQNHOW XQG QXU ODWHQW LQ LKP YRUKDQGHQ VLQG LVW VHLQ %HZXWVHLQ DXV VLFK VHOEVW KHUDXV QLFKW LQ GHU /DJH GLH IHUQHQ +|KHQ GHU VSLULWXHOOHQ 9HU WUDXWKHLW PLW GHP XQLYHUVDOHQ /HEHQ ]X HUUHLFKHQ 0DJLH LQ GHQ +lQGHQ HLQHV DXVJHELOGHWHQ XQG HUIDKUHQHQ 3UDNWLNHUV LVW GDV 0LWWHO PLW GHVVHQ +LOIH MHQH 9HUILQVWHUXQJ GHV LQQHUHQ /LFKWHV EHUZXQGHQ ZHUGHQ NDQQ 0LWWHOV PHKUHUHU ,QLWLDWLRQHQ ZHUGHQ GLH 6DPHQ GHV (UZDFKHQV LQ GLH 6HHOH JHOHJW 6SlWHU ZHUGHQ VLH JHQlKUW GDPLW HLQH DNWLYH OHEHQGLJH )ODPPH HQWVWHKW GLH *HLVW XQG 6HHOH LOOXPLQLHUW XQG GLH QRWZHQGLJH $QOHLWXQJ OLHIHUW DXI GDGHU =ZHFNGHU,QNDUQDWLRQHUIOOWZHUGH 'LH =DKO GHU =HUHPRQLHQ XQG LKU GHWDLOOLHUWHU 6LQQ PX QD WUOLFK LQ GHQ YHUVFKLHGHQHQ 6\VWHPHQ GLIIHULHUHQ REJOHLFK DOOH KLQVLFKWOLFK GHU JHQHUHOOHQ %HGHXWXQJ EHUHLQVWLPPHQ ,Q HLQHP ,QLWLDWLRQVV\VWHP GDV IU PLFK SHUV|QOLFK YRQ EHVRQGHUHU %H GHXWXQJ LVW JLEW HV LQVJHVDPW VLHEHQ ZLFKWLJH ,QLWLDWLRQV]HUH PRQLHQ 'LH HUVWH GLHVHU =HUHPRQLHQ GLHQW GHU 9RUEHUHLWXQJ .RQVHNUDWLRQ :HLKXQJ XQG 5HLQLJXQJ 6LH EULQJW GHP JHWUEWHQ %OLFN GHV 1HRSK\WHQ HLQH HUVWH YDJH $KQXQJ MHQHV /LFKWHV ]X %HZXWVHLQ]XGHPHUKLQVWUHEWXQGGDVWUEHLQIHUQHU'XQNHOKHLW YHUORUHQ ]X VHLQ VFKHLQW 'DV 6DPHQNRUQ GHV /LFKWV ZLUG GXUFK 6XJJHVWLRQHQ LQ )RUP YRQ ULWXHOOHQ 'LDORJHQ WLHI LQ VHLQ ,QQHUHV YHUVHQNWDXIGDHV JHQlKUWGXUFKGLH=HLWXQGGLH
+LQJDEH DQ GLH PDJLVFKH 3UD[LV ]XP DXVJHZDFKVHQHQ %DXP GHU ,OOXPLQDWLRQXQGGHUJ|WWOLFKHQ9HUHLQLJXQJZDFKVHXQGHUEOKH 'LH QlFKVWHQ IQI =HUHPRQLHQ ]LHOHQ GDUDXI GDV ]X HQWZLFNHOQ ZDV DOV HOHPHQWDUH *UXQGODJH GHU 6HHOH EH]HLFKQHW ZLUG 'DV %HZXWVHLQ GDV VLFK QXQ XQWHU GHU 2EKXW GHV /LFKWHV EHILQGHW PX LQ VHLQHQ HOHPHQWDUHQ $VSHNWHQ JHVWlUNW ZHUGHQ GDPLW GDV HOHPHQWDUH 6HOEVW ZHQQ GDV /LFKW GDQQ VFKOLHOLFK LQ GLH 6HHOH (LQ]XJ KlOW VWDUN XQG UHLQ JHQXJ LVW XP GLH 6HHOH ]X XQWHUVWW]HQ DXI GD VLH RKQH 6FKDGHQ GHQ JHZDOWLJHQ 6WXUP GHU J|WWOLFKHQ +HUUOLFKNHLW DXVKlOW =XQlFKVW PDJ GLHV YLHOOHLFKW QLFKW DOV GULQ JHQGH 1RWZHQGLJNHLW HUVFKHLQHQ 'RFK ZHQQ PDQ VLFK DQ GLH .UDQNKHLWVV\PSWRPH GHV 0\VWL]LVPXV HULQQHUW DQ DOO GLH ZRKO PHLQHQGHQ DEHU ZLUUN|SILJHQ XQG XQUHDOLVWLVFKHQ 0HQVFKHQ GLHVHU:HOWGLHVFKRQGXUFKHLQHUHODWLYVFKZDFKH)RUPVSLULWXHOOHU (UIDKUXQJ Y|OOLJ OHEHQVXQWFKWLJ JHPDFKW ZRUGHQ VLQG GDQQ ZLUG NODU GD GLHVH PDJLVFKHQ 9RUVLFKWVPDQDKPHQ HLQHU JHZLVVHQ %HUHFKWLJXQJQLFKWHQWEHKUHQ(VZlUHYHUJHEOLFKH0KHGHQ:HLQ GHU *|WWHU LQ DOWH EHVFKlGLJWH *HIlH ]X JLHHQ :LU PVVHQ VLFKHUVWHOOHQ GD GLH *HIlH XQYHUVHKUW XQG VWDUN VLQG GD VLH GHQ :HLQ GHU YRQ REHQ LQ VLH KLQHLQJHJRVVHQ ZLUG ]X EHZDKUHQ YHU P|JHQXQGGDVLHLKQQLFKWYHUULQQHQODVVHQ 1DFKGHPGLHIQI=HUHPRQLHQ]XU6WlUNXQJGHU(OHPHQWDUNUlIWH YROO]RJHQXQGGLH6DPHQGHUJ|WWOLFKHQ(OHPHQWH(UGH/XIW:DVVHU )HXHU XQG bWKHU LQ GLH PHQVFKOLFKH 6HHOH JHVlW ZRUGHQ VLQG LVW GHU .DQGLGDW EHUHLW IU GLH OHW]WH ,QLWLDWLRQ GLHVHU 6HTXHQ] ,P 0LWWHOSXQNW GLHVHU VLHEWHQ ,QLWLDWLRQ VWHKW GLH ,QYRNDWLRQ GHVVHQ ZDV JHZ|KQOLFK DOV K|KHUHV 6HOEVW RGHU DOV +HLOLJHU 6FKXW]HQJHO EH]HLFKQHW ZLUG 'LHV LVW GHU ]HQWUDOH .HUQ GHU ,QGLYLGXDOLWlW GLH :XU]HO GHV 8QEHZXWHQ %HYRU GLH 9HUHLQLJXQJ PLW GHP 8QHQGOLFKHQ LQV $XJH JHIDW ZHUGHQ NDQQ PVVHQ DOOH %H VWDQGWHLOHGHUPHQVFKOLFKHQ1DWXUPLWHLQDQGHUYHUHLQLJWZHUGHQVR GD GHU 0HQVFK ]X HLQHP YHUHLQLJWHQ %HZXWVHLQ ZLUG VWDWW ZLH ]XYRU HLQH XQYHUEXQGHQH $QVDPPOXQJ YRQ DEJHWUHQQWHQ %HZXWVHLQVWHLOHQ ]X VHLQ 'LH ,QWHOOLJHQ] GHU =HOOHQ DXV ZHOFKHQ GHU .|USHU EHVWHKW GDV 5HLFK GHU (PRWLRQHQ XQG *HIKOH GLH 6SKlUH GHV *HLVWHV VHOEVW VLH DOOH PVVHQ GXUFK HLQH EHZXWH 5HDOLVDWLRQ GHU ZDKUHQ 1DWXU GHV 6HOEVW GHV K|KHUHQ *HQLXVGHU VLFK LKUHU EHGLHQW PLWHLQDQGHU YHUHLQW XQG YHUEXQGHQ ZHUGHQ 1DFKGHPPLW+LOIHGHUWHOHVWLVFKHQRGHULQLWLDWRULVFKHQ5LWHQGLH
,QWHJULWl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lOWLJHQXQGVLH VRJDUY|OOLJ]XPHLVWHUQVRGDVLHLKQQLFKWPHKUXQWHUMRFKHQ(ULVW GXUFK NHLQHUOHL )HVVHOQ PHKU DQ GLH 3IOLFKWHQ GLHVHU (UGH JH EXQGHQ )HVVHOQ GLH LPPHU QHXH ,QNDUQDWLRQHQ HUIRUGHUOLFK PDFKHQELVHVLKPJHOLQJWVLH]XVSUHQJHQ 1DFKGHP GXUFK (UODQJHQ GHU ,QWHJULWlW LP ZDKUVWHQ XQG J|WW OLFKVWHQ 6LQQH )UHLKHLW HUUXQJHQ ZRUGHQ LVW NDQQ GHU QlFKVWH 6FKULWWDXI GHP:HJGHU0DJLH HUNDQQW XQGDQJHVWUHEWZHUGHQ GLH EHZXWH 5FNNHKU GHV 0HQVFKHQ ]XP J|WWOLFKHQ /LFKW GHP HU HQWVWDPPW
'HU6LQQGHU0DJLH
:LU OHEHQ KHXWH LQ HLQHU :HOW XQJHKHXUHU PDWHULHOOHU )RUWVFKULWWH XQGHEHQVRJURHQWHFKQLVFKHQ(UILQGXQJVUHLFKWXPV$OOHQWKDOEHQ VSUHQ ZLU GLH JHVHOOVFKDIWOLFKHQ $XVZLUNXQJHQ GHU ZHOWZHLWHQ )RUWVFKULWWH LQ GHU .RPPXQLNDWLRQ LQIROJH GHV (LQIOXVVHV YRQ $XGLR XQG 7HOHYLVLRQ VRZLH YRQ /XIW XQG 5DXPIDKUW $QJHVLFKWV GLHVHU 0|JOLFKNHLWHQ VFKHLQW GLH =HLW EHGHXWXQJVORV ]X ZHUGHQ XQG GHU 5DXP VFKUXPSIW ]X IDVW QLFKWV ]XVDPPHQ 'LH 0HQVFKHQ DXI GHU (UGH UFNHQ YLHO QlKHU ]XVDPPHQ DOVGLHV MHPDOV ]XYRU LQ GHU *HVFKLFKWH GHU )DOO ZDU 3DUDGR[HUZHLVH MHGRFK OHEW WURW] GLHVHUHLQ]LJDUWLJHQZLVVHQVFKDIWOLFKHQ)RUWVFKULWWHHLQJURHU7HLO GHU 0HQVFKKHLW LQ lXHUVW lUPOLFKHQ 9HUKlOWQLVVHQ 9LHOH 9|ONHU OHLGHQ XQWHU XQYRUVWHOOEDUHQ +XQJHUVQ|WHQ GHQQ LQIROJH GHU ZLVVHQVFKDIWOLFKHQ)RUVFKXQJLVWHV]ZDU]XHLQHUhEHUSURGXNWLRQ YRQ1DKUXQJVPLWWHOQXQGDQGHUHQ*HEUDXFKVJWHUQ
JHNRPPHQGRFKNRQQWHGDV3UREOHPGHUEHGDUIVJHUHFKWHQ9HUWHLOXQJ ELVKHUQLFKWDXIEHIULHGLJHQGH:HLVHJHO|VWZHUGHQ'LH:LVVHQVFKDIW KDW LQ XQVHUHU =HLW HLQHQ &KDUDNWHU DQJHQRPPHQ GHU LKU XUVSUQJOLFKQLFKWHLJHQZDU7URW]GHV&KDRVGHULQWHUQDWLRQDOHQ %H]LHKXQJHQ XQG GHU $QJVW GHU PHLVWHQ 0HQVFKHQ YRU HLQHP ZHLWHUHQ NDWDVWURSKDOHQ .ULHJ XPJLEW VLFK GLH :LVVHQVFKDIW PLW HLQHP1LPEXVXQQDKEDUHU(UKDEHQKHLW 9LHOOHLFKWLVWGDV*HIKOGHU8QVLFKHUKHLWXQG)XUFKWGHU*UXQGIU GLHVHQ =XVWDQG GHQQ GLH PHQVFKOLFKH 3V\FKH LVW LKUHP LQQHUVWHQ :HVHQQDFKIHLJH:LUN|QQHQHVQLFKW HUWUDJHQHKUOLFKXQVVHOEVW JHJHQEHU]XVHLQXQGGLH9RUVWHOOXQJ]XDN]HSWLHUHQGD*HIKOH GHU 8QVLFKHUKHLW )XUFKW XQG 0LQGHUZHUWLJNHLW &KDUDNWHULVWLND XQVHUHU PHQVFKOLFKHQ 1DWXU VLQG 6WDWW GHVVHQ SURML]LHUHQ ZLU GLHVH bQJVWH QDFK DXHQ DXI GDV /HEHQ XQG VFKUHLEHQ GHU :LVVHQVFKDIW VRZLH MHGHU DQGHUHQ $UW YRQ :LVVHQ HLQ ULHVLJHV :LUNXQJVSRWHQWLDO ]X XP DXI GLHVH :HLVH XQVHUHQ VWlQGLJ GDKLQVFKZLQGHQGHQ 0XW ]X VWlUNHQ :HJHQ XQVHUHU 3URMHNWLRQHQ QLPPW GLH :LVVHQVFKDIW LQ XQVHUHU KHXWLJHQ :HOW HLQH $XWRUL WlWVSRVLWLRQ HLQ GLH NDXP MHPDQG LQ )UDJH ]X VWHOOHQ ZDJW :LU N|QQHQ QLFKW HLQPDO GDV *HIKO HUWUDJHQ GD VLH LQ )UDJH JHVWHOOW ZHUGHQ VROOWHGHQQ ZLU EUDXFKHQ GDV *HIKO GD ]XPLQGHVW GLH :LVVHQVFKDIW EHU $XWRULWlW XQDQ]ZHLIHOEDUHV :LVVHQ XQG MHQH 6LFKHUKHLW YHUIJW QDFK GHU ZLU XQV VR VHKU VHKQHQ 'LHVHV 3Kl QRPHQ lKQHOW VWDUN GHP *HKRUVDP XQG 5HVSHNW GLH YRU HLQLJHQ -DKUKXQGHUWHQ GHU NLUFKOLFK RUJDQLVLHUWHQ 5HOLJLRQ HQWJHJHQJH EUDFKW ZXUGHQ )U YLHOH 0HQVFKHQ KDW GLH :LVVHQVFKDIW KHXWH GLH )XQNWLRQ HLQHU LQWHOOHNWXHOOHQ 5LFKWVFKQXU DQ GHU VLH WURW] LKUHU SHUV|QOLFKHQ 1HXURVHQ XQG WURW] LKUHU PRUDOLVFKHQ 0lQJHO DOOH 'LQJHPHVVHQXPVLHGDQQ]XDN]HSWLHUHQRGHUDE]XOHKQHQ :LVVHQVFKDIWXQG0DJLH
=LHOVHW]XQJHQ MHGHU $UW GLH ]HLWZHLVH QLFKW GHQ MHZHLOV SRSXOlUHQ ,QWHUHVVHQ HQWVSUHFKHQ DXFK ZHQQ LQ LKQHQ GLH +RIIQXQJ DXI VSLULWXHOOHQ )RUWVFKULWW GHU :HOW OLHJW RGHU 7KHPHQ GLH QLFKW GXUFK GLH WRQDQJHEHQGHQ .UlIWH GHU ZLVVHQVFKDIWOLFKHQ :HOW JXWJHKHLHQ ZHUGHQ ZHUGHQ ]ZDQJVOlXILJ YHUQDFKOlVVLJW XQG LQ NUDVVHU:HLVHPLYHUVWDQGHQ6RLVWEHLYLHOHQ0HQVFKHQGLHHUVWH
5HDNWLRQDXI0DJLHHQWZHGHU)XUFKWXQG6FKUHFNHQRGHUHLQVI ILVDQWHV/lFKHOQZRUDXIJHZ|KQOLFKHLQH%HPHUNXQJIROJWGLH 0DJLHDOVJOHLFKEHGHXWHQGPLW$EHUJODXEHQKLQVWHOOWGDLKUH 7KHVHQDQJHEOLFKOlQJVWZLGHUOHJWVHLHQ$XHUGHPLVWLPPHU ZLHGHU]XK|UHQ0DJLHVHLXQZLVVHQVFKDIWOLFK'LHVHQ(LQVWHO OXQJHQEHJHJQHWGLH0HKUKHLWGHUMHQLJHQGHUHQ+DXSWLQWHUHVVHGLH 0DJLHLVWE]ZGDVZDVKHXWHDOV2NNXOWLVPXVEH]HLFKQHWZLUG(V VFKHLQWGDGDV*URVGHU0HQVFKHQHEHQVRZLHVLHLKUH+RIIXQJ DXI6LFKHUKHLWXQGLKU9HUODQJHQQDFKHLQHPXQHUVFKWWHUOLFKHQ :LVVHQDXIGLH:LVVHQVFKDIWSURML]LHUHQLKUHLQQHUHQbQJVWHXQG GHQ6FKUHFNHQGHQHQVLHQLFKWLQV$QWOLW]]XVFKDXHQZDJHQDXI GDV]XDOOHQ=HLWHQLPPHUZLHGHUPLYHUVWDQGHQHWUDGLWLRQHOOH :LVVHQGHU0DJLHSURML]LHUHQ'LHVH5HDNWLRQZLUNWPLW]LHPOLFKHU 6LFKHUKHLWK|FKVWEHXQUXKLJHQGZHQQPDQLKUQLFKWVRJOHLFKPLW .ULWLNXQGNODUHQ'HILQLWLRQHQEHJHJQHW1XUPLWGLHVHQ0LWWHOQ N|QQHQZLUGLHZLUIUGLH0DJLHHLQWUHWHQXQV ZHQQDXFKQXU ZLGHUZLOOLJHV *HK|UYHUVFKDIIHQ:LVVHQVFKDIWKDWZLHGDV:RUW VFKRQVDJWPLW:LVVHQ]XWXQ)ROJOLFKLVWMHGHV:LVVHQVV\VWHP JDQ]XQDEKlQJLJYRQVHLQHP&KDUDNWHU REDQWLNPLWWHODOWHUOLFK RGHUQHX]HLWOLFKHLQH:LVVHQVFKDIW'LHKHXWHYRUKHUUVFKHQGH 7HUPLQRORJLHYHUZHQGHWGHQ%HJULII:LVVHQVFKDIWMHGRFK KDXSWVlFKOLFKIUMHQH$UWYRQ:LVVHQGLH]XV\VWHPDWLVFKHU2UGQXQJ UHGX]LHUWZRUGHQLVW'LHVH2UGQXQJZLUGPLWWHOVH[SHULPHQWHOO DXVJHIKUWHUJHQDXHU%HREDFKWXQJEHUHLQHJHZLVVH=HLWVSDQQH JHZRQQHQZHLWHUKLQGXUFK.ODVVLIL]LHUXQJGHV9HUKDOWHQV QDWUOLFKHU3KlQRPHQHVRZLHVFKOLHOLFKGXUFK'HGXNWLRQ DOOJHPHLQHU*HVHW]HGLHMHQHV9HUKDOWHQHUNOlUHQXQGEHJUQGHQ VROOHQ1DFKGLHVHU'HILQLWLRQGHU:LVVHQVFKDIWPWHDXFKGLH 0DJLH]XGHQ:LVVHQVFKDIWHQJHUHFKQHWZHUGHQGHQQGLH,QKDOWH GHU0DJLHVLQGEHUODQJH=HLWUlXPHPLW]ZHLIHOVIUHLHQ0LWWHOQ EHREDFKWHWDXIJH]HLFKQHWXQGEHVFKULHEHQZRUGHQ8QGREJOHLFK HVLQGHU0DJLHQLFKWXPSK\VLVFKH3KlQRPHQHJHKWVRQGHUQXP VROFKHGLHLQLKUHU:LUNXQJIDVWDXVVFKOLHOLFKSV\FKRORJLVFKHU 1DWXUVLQGKDQGHOWHVVLFKGRFKHLQGHXWLJXPQDWUOLFKH 3KlQRPHQH$XFKKDWPDQDOOJHPHLQJOWLJH*HVHW]HHQWZLFNHOW XPGLHPDJLVFKHQ3KlQRPHQH]XEHVFKUHLEHQXQG]XHUNOlUHQ
'HILQLWLRQHQGHU0DJLH
(LQH 'HILQLWLRQ GHU 0DJLH VWHOOW HLQH ZHVHQWOLFK VFKZLHULJHUH $XIJDEH GDU (LQH NXU]JHKDOWHQH 'HILQLWLRQ GLH ZLUNOLFK GLH 1DWXU GHU 0DJLH HUNOlUW XQG LKUHQ :LUNXQJVEHUHLFK EHVFKUHLEW LVW SUDNWLVFK XQP|JOLFK ,Q HLQHP :|UWHUEXFK ZLUG 0DJLH GHILQLHUW DOV ©GLH .XQVW QDWUOLFKH 8UVDFKHQ VR DQ]XZHQGHQ GD EHUUD VFKHQGH :LUNXQJHQ DXIWUHWHQª +DYHORFN (OOLV KDW YRUJHVFKODJHQ PDQ N|QQH MHGHQ IDEDUHQ $NW LP /DXIH GHV /HEHQV DOV PDJLVFKHQ $NW EH]HLFKQHQ $OHLVWHU &URZOH\ KDW DOV 'HILQLWLRQ GHU 0DJLH YRUJHVFKODJHQ ©0DJLH LVW GLH :LVVHQVFKDIW XQG .XQVW 9HUlQGH UXQJHQ LQ hEHUHLQVWLPPXQJ PLW GHP :LOOHQ ]X EHZLUNHQª 'LRQ )RUWXQH ZDQGHOWH GLHVH 'HILQLWLRQ OHLFKW DE LQGHP VLH VSH]LIL ]LHUWH ©9HUlQGHUXQJHQ LP %HZXWVHLQª 'HU DQRQ\PH PLWWHODO WHUOLFKH $XWRU GHU *RHWLD RGHU &ODYLFXOD 6DORPRQLV KDW HLQH (LQOHLWXQJ ]X MHQHP %XFK JHVFKULHEHQ LQ GHU HV KHLW ©0DJLH LVW GDVK|FKVWHDEVROXWHVWHXQGJ|WWOLFKVWH:LVVHQGHU1DWXUSKLORVRSKLH :HQQ GLH ULFKWLJHQ :LUNVWRIIH DXI GLH ULFKWLJHQ 3HUVRQHQ DQJHZDQGW ZHUGHQ WUHWHQ PHUNZUGLJH XQG HUVWDXQOLFKH :LU NXQJHQ DXI 'HVKDOE VLQG 0DJLHU VFKDUIVLQQLJH XQG VRUJIlOWLJH (UIRUVFKHUGHU1DWXUª +DEHQ GLHVH 'HILQLWLRQHQ XQV LUJHQG HWZDV *HQDXHV EHU GDV 7KHPD 0DJLH JHVDJW" ,FK SHUV|QOLFK P|FKWH GDV HKHU EH]ZHLIHOQ 6LH VLQG DOOHVDPW ]X DOOJHPHLQ JHKDOWHQ DOV GD VLH ZLUNOLFK YRQ 1XW]HQ VHLQ N|QQWHQ :LU ZROOHQ GHVKDOE QLFKW ZHLWHU QDFK JH HLJQHWHQ 'HILQLWLRQHQ $XVVFKDX KDOWHQ VRQGHUQ ]XQlFKVW HLQPDO JHZLVVH $VSHNWH RGHU *UXQGSULQ]LSLHQ GHU 0DJLH XQWHUVXFKHQ 9LHOOHLFKW KDEHQ ZLU GDQDFK VRYLHO YHUWUDXHQVZUGLJHV XQG EH ZHLVNUlIWLJHV 0DWHULDO ]XU 9HUIJXQJ GD ZLU XQV HUQHXW DQ HLQH 'HILQLWLRQ ZDJHQ N|QQHQ GLH HLQH SUl]LVH XQG IU XQVHUHQ 9HU VWDQGIDOLFKH$XVVDJHWULIIW
'HU %HJULII ©0DJLHª XPIDW PHKUHUH ]LHPOLFK HLJHQVWlQGLJH 7HFKQLNHQ (V HUVFKHLQW PLU YRQ 9RUWHLO HLQLJH GDYRQ HLQPDO QlKHU ]X XQWHUVXFKHQ %HYRU ZLU GLHV WXQ KDOWH LFK HV IU UDWVDP GD ZLU XQV PLW HLQHP 7HLO GHU ]XJUXQGHOLHJHQGHQ 7KHRULH EH IDVVHQ ,FK ZHL GD YLHOH HLQZHQGHQ ZHUGHQ 0DJLH VHL QLFKWV ZHLWHU DOV HLQH SULPLWLYH )RUP GHU 3V\FKRORJLH XQG REHQGUHLQ OHGLJOLFKGLH3V\FKRORJLHGHU$XWRVXJJHVWLRQ:DKUVFKHLQOLFKLVW
GLHVH .ULWLN YRQ HLQHP NDXP YHUKRKOHQHQ +RKQOlFKHOQ EHJOHLWHW 'RFK UHLFKW GLHVHU (LQZDQG NHLQHVZHJV DXV XP GLH 'LVNXVVLRQ EHU GLH 0DJLH VRIRUW XQG HQGJOWLJ ]X EHHQGHQ ,FK P|FKWH JDU QLFKW DEVWUHLWHQ GD $XWRVXJJHVWLRQ LQ GHU 0DJLH HLQH JHZLVVH 5ROOH VSLHOW 'DV LVW JDQ] VLFKHU GHU )DOO 'RFK P|FKWH LFK GDUDXI KLQZHLVHQ GD HV VLFK XP HLQH VHKU KRFK HQWZLFNHOWH )RUP GHU $XWRVXJJHVWLRQ KDQGHOW GLH GLH 9HUIDKUHQ HLQLJHU XQVHUHU SV\FKR ORJLVFKHQ )RUVFKHU DOV ]LHPOLFK NLQGLVFK XQG XQHQWZLFNHOW HU VFKHLQHQ OlW (V ZlUH HLQ )HKOHU DQ]XQHKPHQ GD GLH (UILQGHU XQG (QWZLFNOHU PDJLVFKHU 3UR]HGXUHQ YHUJDQJHQHU =HLWHQ QDLYH 'XPPN|SIH JHZHVHQ VHLHQ GLH LQ Y|OOLJHU 8QNHQQWQLV GHU 3V\ FKRORJLH XQG GHU 6WUXNWXU GHV *HLVWHV KHUXPKDQWLHUW KlWWHQ RGHU GD VLH YLHOH GHU SV\FKLVFKHQ 3UREOHPH QLFKW JHVHKHQ KlWWHQ PLW GHQHQ ZLU XQV KHXWH KHUXPVFKODJHQ 9LHOH 0DJLHU IUKHUHU =HLWHQ ZDUHQ ZHLVH XQG JHELOGHWH 0HQVFKHQ .QVWOHU XQG :LVVHQGH GLH VHKU JHQDX ZXWHQ ZLH PDQ 0HQVFKHQ EHHLQIOXVVHQ XQG DXI VLH HLQZLUNHQNDQQ :LU ZLVVHQ GD GLHVH 0DJLHU XPIDVVHQGH .HQQWQLVVH EHU +\SQRVH XQG EHU GDV ,QGX]LHUHQ K\SQRWLVFKHU =XVWlQGH KDWWHQ +|FKVWZDKUVFKHLQOLFK VSHNXOLHUWHQ VLH lKQOLFK ]DKOORVHQ PR GHUQHQ 3V\FKRORJHQ EHU 0HWKRGHQ ]XU ,QGXNWLRQ K\SQRWLVFKHU =XVWlQGH RKQH 0LWZLUNXQJ HLQHU ]ZHLWHQ 3HUVRQ 'RFK ZXUGHQ VLH VLFK VFKRQ EDOG GHU +LQGHUQLVVH XQG %DUULHUHQ EHZXW GLH VLFK LKQHQ HQWJHJHQVWHOOWHQ XQG GDV ZDUHQ QLFKW ZHQLJH ,FK ELQ GHU 0HLQXQJ GD VLH PLW GHU 0DJLH HLQ KRFKZLUNVDPHV 9HUIDKUHQ ]XU hEHUZLQGXQJGLHVHU6FKZLHULJNHLWHQHQWZLFNHOWHQ 'DV8QEHZXWH
$OV &RXH XQV YRU YLHOHQ -DKUHQ PLW VHLQHU VSHNXODWLYHQ )RUPHO ©7DJ IU 7DJ JHKW HV PLU LQ MHGHU +LQVLFKW EHVVHUª YHUEOIIWH JODXEWHQ YLHOH QXQ VHL HQGOLFK HLQH LGHDOH 0HWKRGH JHIXQGHQ XP GHQ 'LQJHQ ZLUNOLFK DXI GHQ *UXQG]X JHKHQ HLQH 0HWKRGHPLW GHUHQ +LOIH PDQ HQGOLFK GHP VRJHQDQQWHQ 8QEHZXWHQ DXI GLH 6SXU NRPPHQ N|QQWH +XQGHUWWDXVHQGH YRQ 0HQVFKHQ PVVHQ GDPDOV YRU GHP (LQVFKODIHQ PLW DOOHU (QWVFKORVVHQKHLW YHUVXFKW KDEHQ HLQHQ P|JOLFKVW SHUIHNWHQ (QWVSDQQXQJV]XVWDQG ]X LQGX ]LHUHQXQGXQWHUVWlQGLJHP0XUPHOQYRQ&RXHVPDJLVFKHU)RU
PHOLQGDV/DQGGHV6FKODIVHLQ]XWUHWHQ$QGHUHK|UWHQVLFKLQQXU VSlUOLFK EHOHXFKWHWHQ 5lXPHQ 0XVLN DQ ELV VLH HLQ *HIKO GHU LQQHUHQ (UKHEXQJ YHUVSUWHQ ZRUDXIKLQ VLH MHQHQ KHLOHQGHQ 6DW] PXUPHOWHQ ELV VLH GDV *HIKO KDWWHQ QXQ PVVH PLW 6LFKHUKHLW HLQSRVLWLYHV(UJHEQLVHLQWUHWHQ *DQ] VLFKHU VWHOOWHQ VLFK EHL HLQLJHQ *OFNOLFKHQ WDWVlFKOLFK SRVLWLYH 5HVXOWDWH HLQ DOOHUGLQJV OHLGHU QXU EHL ZHQLJHQ (LQLJH EHUZDQGHQ N|USHUOLFKH .UDQNKHLWVHUVFKHLQXQJHQ 1HUYRVLWlW VRJHQDQQWH 6SUDFKVW|UXQJHQ XQG DQGHUH 0DQLHULVPHQ XQG HV JHODQJ LKQHQ VRJDU DXI GLHVH :HLVH LKU SHUV|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lKQWHQ 6\VWHPH EHKDXSWHQ GDV 8QEHZXWHVHLHLQHZDKUH6FKDW]NDPPHUGHU0DFKWXQG(QHUJLH(V EHKHUUVFKH MHGH )XQNWLRQ GHV .|USHUV LQ MHGHP $XJHQEOLFN MHGHV 7DJHV XQG HV VFKODIH ZHGHU QRFK HUPGH HV MHPDOV 'DV +HU] VFKOlJW ]ZHLXQGVLHE]LJPDO SUR 0LQXWH XQG DOOH GUHL RGHU YLHU 6HNXQGHQ DWPHQ XQVHUH /XQJHQ 6DXHUVWRII HLQ XQG .RKOHQVWRII XQG DQGHUH $EIDOOSURGXNWH GHV 6WRIIZHFKVHOV DXV 'HU NRPSOL ]LHUWH 3UR]H GHU 9HUGDXXQJ XQG $VVLPLODWLRQ GHU 1DKUXQJ ZHOFKH]XPIHVWHQ%HVWDQGWHLOXQVHUHV6HLQVZLUGGHU%OXWNUHLVODXI :DFKVWXP (QWZLFNOXQJ XQG 9HUYLHOIlOWLJXQJ GHU =HOOHQ GHU RUJDQLVFKH :LGHUVWDQG JHJHQ ,QIHNWLRQHQ DOOH GLHVH 3UR]HVVH EHILQGHQ VLFK QDFK GLHVHU 7KHRULH XQWHU GHU XQPLWWHOEDUHQ .RQ WUROOH MHQHV 7HLOV XQVHUHV *HLVWHV GHVVHQ ZLU XQV JHZ|KQOLFK QLFKW EHZXWVLQG GHV8QEHZXWHQ 'RFK GLHV LVW QXU HLQH WKHRUHWLVFKH $QQlKHUXQJ DQ GDV 8QEH ZXWH (V JLEW DXFK DQGHUH 'HILQLWLRQHQ VHLQHU 1DWXU XQG )XQN WLRQVZHLVHGLHDOOHVDPWGLHSUDNWLVFKH0|JOLFKNHLWDXVVFKOLHHQ
GD ZLU XQVHUH *HEUHFKHQ PLW +LOIH YRQ 6XJJHVWLRQ RGHU $XWRVXJ JHVWLRQNXULHUHQN|QQWHQ%HLVSLHOVZHLVHJLEWHVGLH'HILQLWLRQYRQ -XQJPLWGHULFKLQYLHOHUOHL+LQVLFKWV\PSDWKLVLHUH,FKKDOWHHVIU GHU 0KH ZHUW VLH KLHU DXVIKUOLFK ]X ]LWLHUHQ ,Q VHLQHU6FKULIW 0RGHUQ0DQLQ6HDUFKRID6RXO VFKUHLEWHU ©6RHQWKlOWDXFKGDVPHQVFKOLFKH8QEHZXWHGLHJDQ]HYHUHUEWH/H EHQV XQG )XQNWLRQVIRUP GHU $KQHQUHLKH VR GD EHL MHGHP .LQGH HLQH DQJHSDWH SV\FKLVFKH )XQNWLRQVEHUHLWVFKDIW VFKRQ YRU DOOHP %H ZXWVHLQ YRUKDQGHQ LVW :lKUHQG GDV %HZXWVHLQ ]ZDU LQWHQVLY XQG NRQ]HQWULHUW LVW LVW HV EOR HSKHPHU XQG DXI XQPLWWHOEDUH *HJHQZDUW XQG 1lFKVWHV HLQJHVWHOOW DXFK YHUIJW HV QDWUOLFKHUZHLVH QXU EHU HLQ LQGLYLGXHOOHV (UIDKUXQJVPDWHULDO GDV VLFK EHU ZHQLJ -DKU]HKQWH HU VWUHFNW*DQ]DQGHUVGDV8QEHZXWH'LHVHVLVW]ZDUQLFKWNRQ]HQ WULHUW XQGLQWHQVLYVRQGHUQGlPPHUKDIWELVGXQNHOHVLVWlXHUVWH[WHQVLYXQG NDQQ GLH KHWHURJHQVWHQ (OHPHQWH LQ SDUDGR[HVWHU :HLVH QHEHQHLQDQGHUVWHOOHQ YHUIJW MHGRFK QHEHQ HLQHU XQEHVWLPPEDUHQ 0HQJH XQWHUVFKZHOOLJHU :DKUQHKPXQJHQ EHU GHQ XQJHKHXUHQ 6FKDW] GHU 1LHGHUVFKOlJH DOOHU $KQHQOHEHQ ZHOFKH GXUFK LKU EORHV 'DVHLQ ]XU 'LIIHUHQ]LHUXQJ GHU 6SH]LHV EHLJHWUDJHQ KDEHQ .|QQWH PDQ GDV 8QEH ZXWH SHUVRQLIL]LHUHQ VR ZlUH HV HLQ NROOHNWLYHU 0HQVFK MHQVHLWV GHU JHVFKOHFKWOLFKHQ%HVRQGHUKHLWMHQVHLWVYRQ-XJHQGXQG$OWHUYRQ*H EXUW XQG 7RG XQG ZUGH EHU GLH DQQlKHUQG XQVWHUEOLFKH PHQVFKOLFKH (UIDKUXQJ YRQ HLQ ELV ]ZHL 0LOOLRQHQ -DKUHQ YHUIJHQ 'LHVHU 0HQVFK ZlUH VFKOHFKWKLQ HUKDEHQ EHU GHQ :HFKVHO GHU =HLWHQ *HJHQZDUW ZUGH LKP HEHQVRYLHO EHGHXWHQ ZLH LUJHQGHLQ -DKU LP KXQGHUWVWHQ -DKUWDXVHQG YRU &KULVWL *HEXUW HU ZlUH HLQ 7UlXPHU VlNXODUHU 7UlXPH XQG HU ZlUH HLQ XQYHUJOHLFKOLFKHU 3URJQRVHQVWHLOHU DXI *UXQG VHLQHU XQHUPHOLFKHQ (UIDKUXQJ 'HQQ HU KlWWHGDV/HEHQ GHV (LQ]HOQHQ GHU )DPLOLHQ GHU 6WlPPH XQG 9|ONHU XQ]lKOLJH 0DOH HUOH EW XQG EHVlH GHQ 5K\WKPXVGHV:HUGHQV%OKHQVXQG9HUJHKHQVLPOHEHQGLJVWHQLQ QHUHQ *HIKOHª
:HQQPDQVLFKGLHVHU'HILQLWLRQDQVFKOLHWHUVFKHLQWGLH$EVLFKW GLHVHP©7UlXPHUVlNXODUHUXUDOWHU 7UlXPHª9RUVWHOOXQJHQ 0RGHUQ0DQLQ6HDUFKRID6RXO LVWHLQHLQ(QJODQGHUVFKLHQHQH 6DPPOXQJYRQ6FKULIWHQ-XQJV &*-XQJ*: 'LH'\QDPLNGHV8QEHZXWHQ@ ©'DV*UXQGSUREOHP GHUJHJHQZlUWLJHQ3V\FKRORJLHª6
VXJJHULHUHQ]XZROOHQ]LHPOLFKDQPDHQG1XUHLQ(LQIDOWVSLQVHO GHULQLQWHOOHNWXHOOHUXQGVSLULWXHOOHU+LQVLFKWVHKUREHUIOlFKOLFKLVW ZUGH GLH .KQKHLW EHVLW]HQ GLHVHP ©6HLQª HWZDV KLQVLFKWOLFK JHVFKlIWOLFKHU HKHOLFKHU RGHU JHVXQGKHLWOLFKHU 3UREOHPH VXJJHULHUHQ RGHU DXFK QXU YRUVFKODJHQ ]X ZROOHQ 'DV YRQ -XQJ EHVFKULHEHQH .RQ]HSW VFKOLHW GLH VLQQYROOH $QZHQGXQJ YRQ 6XJJHVWLRQYRQ$QIDQJDQDXVHVHUIRUGHUWLQWHOOLJHQWHUH0HWKRGHQ 'LHHQGRSV\FKLVFKH%DUULHUH
1HKPHQ ZLU IU GHQ $XJHQEOLFN XQG DXVVFKOLHOLFK IU GHQ =X VDPPHQKDQJ GLHVHU 'LVNXVVLRQ DQ GD GDV ]XHUVW EHVFKULHEHQH .RQ]HSW GHV 8QEHZXWHQ ]XWUlIH QDFK ZHOFKHP GDV 8QEHZXWH HLQHP 7LWDQHQ JOHLFKW GHU IU 6XJJHVWLRQHQ HPSIlQJOLFK LVW 1DFK GHU 7KHRULH GHU $XWRVXJJHVWLRQ PWHQ ZLU ZHQQ ZLU DQ HLQHU N|USHUOLFKHQ .UDQNKHLW RGHU '\VIXQNWLRQ OHLGHQ GHP 8QEH ZXWHQ EXFKVWlEOLFK VDJHQN|QQHQ ZDV QDFK XQVHUHP :XQVFK JHVFKHKHQ VROO XQG DXI XQVHUHQ NRQ]HQWULHUWHQ :XQVFK KLQ PWHQ GDQQ DXFK WDWVlFKOLFK GLH JHZQVFKWHQ (UJHEQLVVH HLQ WUHWHQ 7KHRUHWLVFK NOLQJW GDV VWLPPLJ GRFK OHLGHU ZLUG KLHU GLH 7DWVDFKH YHUQDFKOlVVLJW GD IUK LP /HEHQ LQQHUKDOE GHU 3V\FKH HLQH XQEHUZLQGOLFKH %DUULHUH HUULFKWHW ZLUG GLH GDV 8QEHZXWH YRP %HZXWVHLQ WUHQQW HLQH %DUULHUH DXV 9RUXUWHLOHQ IDOVFKHQ 0RUDOYRUVWHOOXQJHQ LQIDQWLOHQ 9RUVWHOOXQJHQ 6WRO] XQG (JRLV PXV 'LHVH %DUULHUH LVW VR VWDUN GD VHOEVW XQVHUH DQJHVWUHQJWHVWHQ 9HUVXFKH VLH ]X EHUZLQGHQ Y|OOLJ ZLUNXQJVORV YHUSXIIHQ :LU ZHUGHQ YRQ XQVHUHQ :XU]HOQ DEJHVFKQLWWHQ XQG KDEHQ ZHGHU GLH 0DFKW QRFK GLH )lKLJNHLW PLW GHU WLHIHUHQ LQVWLQNWLYHQ XQG PlFKWLJHUHQ6HLWHXQVHUHU1DWXULQ.RQWDNW]XWUHWHQ 'LH YHUVFKLHGHQHQ 6FKXOHQ GHU $XWRVXJJHVWLRQ XQG GHU 0HWD SK\VLN KDEHQ DOOHVDPW XQWHUVFKLHGOLFKH 7KHRULHQ XQG EHGLHQHQ VLFK XQWHUVFKLHGOLFKHU 7HFKQLNHQ KLQVLFKWOLFK GHU hEHUZLQGXQJ GLHVHU %DUULHUH 'D HLQLJH 0HQVFKHQ PLW GLHVHQ 0HWKRGHQ (UIROJH HU]LHOHQ VWHKW DXHU )UDJH 0DQ WULIIW IDVW WlJOLFK LUJHQG MHPDQGHQ GHU LQ GHU /DJH LVW GLHV ]X ©GHPRQVWULHUHQªXP MHQHV HQWVHW]OLFKH :RUW ]X EHQXW]HQ GDV GLHVH /HXWH VR ]XQJHQIHUWLJ YHUZHQGHQ 'LHVHZHQLJHQVLQGLQGHU/DJHLKU8QEHZXWHVPLWJHZLVVHQ
9RUVWHOOXQJHQ ]X EHHLQGUXFNHQ ZHOFKH EHL LKQHQ DXI IUXFKWEDUHQ %RGHQ ]X IDOOHQ DXI]XNHLPHQ XQG KHLOVDPH (UJHEQLVVH ]X EULQJHQ VFKHLQHQ :LU N|QQHQ GLHV QLFKW DEVWUHLWHQ ZLH JHUQH ZLU HV YLHOOHLFKW WlWHQ VR ZLGHUZlUWLJ LVW LKUH 6HOEVWJHUHFKWLJNHLW LKUH GRJPDWLVFKH(LQVWHOOXQJLKUH8QIlKLJNHLW]XGHQNHQ 'RFK GHU EHL ZHLWHP JU|WH 7HLO LKUHU JOlXELJHQ $QKlQJHUVFKDIW YHUVDJW NOl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|QQH ZHQQ HU LKUH 0HWKRGHQ PLW 0XW XQG$XVGDXHUDQZHQGHIDVWO\ULVFKH7|QHDQNOLQJHQ :LHEHUHLWVHUZlKQWZXWHQVLHXPGLH([LVWHQ]MHQHUSV\FKLVFKHQ 3DQ]HUXQJ XQG NDQQWHQ VLH QXU ]X JXW ,KUH 0HWKRGHQ ]LHOWHQ GDUDXI DOOH .UlIWH GHV ,QGLYLGXXPV ]X PRELOLVLHUHQ VHLQHQ :LOOHQ XQG VHLQH ,PDJLQDWLRQ ]X VWlUNHQ XP HV GD]X ]X EULQJHQ VLFK VHOEVW ]X EHUZLQGHQ DXI GD HV VHLQH 9HUZDQGWVFKDIW VHLQH ,GHQWLWlW XQG VHLQH (LQKHLW PLW GHP XQEHZXWHQ 6HOEVW HUNHQQH ,FK KRIIH DXI GHQ IROJHQGHQ 6HLWHQ GHWDLOOLHUWHU EHVFKUHLEHQ ]X N|QQHQ ZRULQ MHQH 0HWKRGHQ EHVWDQGHQ (LQLJH YRQ LKQHQ P|JHQ XQV DOV LUUDWLRQDO HUVFKHLQHQ XQG GDV VLQG VLH DXFK VLFKHUOL FK ZDV DOOHUGLQJV QLFKW DOV $UJXPHQW IU HLQH $EOHKQXQJ LQ %DXVFK XQG %RGHQGLHQHQVROOWH(LQJURHU7HLOGHV/HEHQVLVWLUUDWLRQDO'RFKLVW HV XQVHUH 3IOLFKW GDV /HEHQ LQ DOOHQ VHLQHQ $VSHNWHQ ]X DN ]HSWLHUHQ UDWLRQDOHQ ZLH LUUDWLRQDOHQ *OHLFK ]X $QIDQJ HLQHU SV\FKRDQDO\WLVFKHQ 7KHUDSLH OHUQW GHU 3DWLHQW GD VHLQ :HVHQ PLQGHVWHQV ]ZHL 6HLWHQ KDW HLQH UDWLRQDOH XQG HLQH LUUDWLRQDOH =XVDPPHQ ELOGHQ VLH HLQ HLQ]LJHV HLJHQVWlQGLJHV ,FK VHLQH 3HUV|QOLFKNHLW:HQQHUGLH%HGHXWXQJRGHUGLH([LVWHQ]HLQHU
GLHVHU EHLGHQ 6HLWHQ OHXJQHW WXW HU VLFK VHOEVW *HZDOW DQ ZDV XQZHLJHUOLFK /HLGHQ ]XU )ROJH KDW %HLGH )DNWRUHQ PVVHQ 6HLWH DQ 6HLWH H[LVWLHUHQ XQG HLQDQGHU EHHLQIOXVVHQ N|QQHQ $XI GLHVH :HLVH ZlFKVW XQG JHGHLKW GDV ,QGLYLGXXP LQWHOOHNWXHOO HPRWLRQDO XQG VSLULWXHOO :HQQ KLQJHJHQ HLQH 6HLWH JHOHXJQHW ZLUG N|QQHQ QXU6FKZLHULJNHLWHQ1HXURVHQXQG.UDQNKHLWHQGLH)ROJH VHLQ 'LH LUUDWLRQDOHQ 3UR]HVVH GLH LQ DOWHU =HLW DOV 7HFKQLN GHU 0DJLH HUIXQGHQ ZXUGHQ XPIDVVHQ GLH 3UD[LV GHU ,QYRNDWLRQ RGHU GHV *HEHWV GHQ *HEUDXFK GHU ,PDJLQDWLRQ EHLPJHLVWLJHQ )RUPXOLHUHQ YRQ %LOGHUQ XQG 6\PEROHQ GLH $QZHQGXQJ GHV UHOLJL|VHQ (PSILQGHQV ]XU (U]HXJXQJ YRQ (NVWDVH XQG HLQHU ,QWHQVLWlW GHV )KOHQV VRZLH HLQH 9HUlQGHUXQJ GHU $WHPIUHTXHQ] ZHOFKH GDV JHZRKQWH QHXURSK\VLRORJLVFKH 0XVWHU YHUlQGHUW XQG GDGXUFK GLH SV\FKLVFKH %DUULHUH GXUFKOlVVLJHU PDFKW $OOHV ZDV ]XU (U]HXJXQJ HLQHU EHUZlOWLJHQGHQ (NVWDVH EHLWUXJ ZXUGH JHI|UGHUW GHQQ LQ GLHVHP SV\FKLVFKHQ =XVWDQG ZDU HV P|JOLFK GLH QRUPDOHUZHLVH EHVWHKHQGHQ%DUULHUHQXQG*UHQ]HQGHUEHZXWHQ3HUV|QOLFKNHLWLQ HLQHPKHIWLJHQ6WXUPHPRWLRQDOHU.RQ]HQWUDWLRQ]XEHUZLQGHQ .RQ]HQWUDWLRQXQG(PRWLRQ
'LH7KHRULHGHUDOWHQ0DJLHUEHVDJWHGDGDV8QEHZXWHRGHUGLH WLHIHUHQ 6FKLFKWHQ GHU 3V\FKH SULQ]LSLHOO PLW +LOIH YRQ ]ZHL 0H WKRGHQHUUHLFKWZHUGHQN|QQH GXUFKLQWHQVLYH.RQ]HQWUDWLRQRGHU GXUFK LQWHQVLYH (PRWLRQHQ 'HU HUVWH :HJ LVW PLW JURHQ 6FKZLHULJNHLWHQYHUEXQGHQ6LFKHUOLFKLVWHVP|JOLFKGHQ*HLVW]X HLQHP VROFKHQ 0D DQ .RQ]HQWUDWLRQ ]X WUDLQLHUHQ GD HU VFKOLHOLFK VR]XVDJHQ HLQHQ 7ULFKWHU ELOGHW GXUFK ZHOFKHQ 6XJ JHVWLRQHQ LQ GDV 8QEHZXWH JHJRVVHQ ZHUGHQ N|QQHQ DXI GD VLH DXI GLH JHZQVFKWH :HLVH LKUH :LUNXQJ WXQ 'RFK GHUDUWLJH 0H WKRGHQ VLQG QXU IUJDQ]ZHQLJHJHHLJQHW(VVLQGLPPHUQXUHLQLJH ZHQLJH 0HQVFKHQ GLH GLH *HGXOG XQG GHQ XQEH]ZLQJEDUHQ :LOOHQ DXIEULQJHQ 7DJ IU 7DJ HLQH JHZLVVH =HLWVSDQQH DOOHLQ GD]XVLW]HQ XQGVLFKHLQHUHLVHUQHQJHLVWLJHQ'LV]LSOLQ]XXQWHUZHUIHQ 'LH(U]HXJXQJHPRWLRQDOHU,QWHQVLWlW REJOHLFKVLHHEHQIDOOV NHLQHVZHJVOHLFKW]XHQWZLFNHOQLVW OLHJWHKHULP%HUHLFKGHV
0|JOLFKHQDOVGLHHUVWJHQDQQWH0HWKRGH8QGGLHVH]ZHLWH0HWKRGH ZDU HV GLH GLH DOWHQ 0DJLHU ]X HLQHU VHKU KRKHQ .XQVW HQWZLFNHOWHQ 6LH HUIDQGHQ HLQH 8QPHQJH YRQ 7HFKQLNHQ ]XU 9HU lQGHUXQJ GHU QRUPDOHQ SK\VLRORJLVFKHQ9HUKDOWHQVJHZRKQKHLWHQ XP VR DXI GLH LKQHQ ]XJUXQGHOLHJHQGH %DVLV GHV 6HOEVW HLQ]XZLUNHQ 8P QRFK HLQPDO ]XVDPPHQ]XIDVVHQ (LQH GHU XQWHUVWHQ 6WXIHQ GHU 0DJLH LVW GLH 'LYLQDWLRQ GLH .XQVW LQ NU]HVWHU =HLW MHGH HUIRUGHUOLFKH $UW YRQ ,QIRUPDWLRQ EHU GDV (UJHEQLV JHZLVVHU +DQGOXQJHQ RGHU (UHLJQLVVH ]X HUKDOWHQ 'DV VRJHQDQQWH :DKU VDJHQ LVW HLQH PLEUlXFKOLFKH $QZHQGXQJ GHU .XQVW GHU 'L YLQDWLRQ 'HU HLQ]LJH =ZHFN GLHVHU .XQVW EHVWHKW GDULQ GLH LQWXLWLYHQ )lKLJNHLWHQ GHV 6FKOHUV VR ZHLW ]X HQWZLFNHOQ GD VFKOLHOLFKDOOH7HFKQLNHQGHU'LYLQDWLRQDXIJHJHEHQZHUGHQN|QQHQ ,VWGLHVH6WXIHGHU (QWZLFNOXQJHUUHLFKWVREULQJWVFKRQGLHEORH 5HIOH[LRQ EHU LUJHQGHLQ 3UREOHP DXWRPDWLVFK PLWWHOV GHU LQWXLWLYHQ 0HFKDQLVPHQ GLH HUIRUGHUOLFKH ,QIRUPDWLRQ KHUYRU XQG ]ZDU PLW HLQHP *UDG DQ 6LFKHUKHLW GHU QXU GXUFK HLQH LQ QHUSV\FKLVFKH4XHOOH]XHUUHLFKHQLVW (LQDQGHUHU$VSHNWGHU0DJLH XQGYLHOOHLFKWGHUMHQLJHGHUYRQDOOHQ GLHJU|WH%HDFKWXQJHUIDKUHQKDW LVWGLH]HUHPRQLHOOH0DJLHLP ZHLWHVWHQ 6LQQH 'LHVHU %HJULII XPIDW PLQGHVWHQV GUHL YHUVFKLHGHQH $UWHQ YRQ ]HUHPRQLHOOHQ 3UDNWLNHQ GLH MHGRFK DOOH GHP JOHLFKHQ 5HJHOV\VWHP IROJHQ RGHU GLH DOOH YRQ HLQHU HLQ]LJHQ +DXSWIRUPHO EHVWLPPW ZHUGHQ 'DV :RUW ©]HUHPRQLHOOª XPIDW 5LWXDOH GHU ,QLWLDWLRQ GHU ,QYRNDWLRQ VRJHQDQQWHU *|WWHU XQG GHU (YRNDWLRQYRQ(OHPHQWDUZHVHQXQGSODQHWDUHQ*HLVWHUQ$XHUGHP JLEW HV QRFK GHQ ULHVLJHQ %HUHLFK GHU 7DOLVPDQH XQG LKUHU .RQVHNUDWLRQ :HLKXQJ XQG $XIODGXQJ 'LH =HUHPRQLH LVW ZDKUVFKHLQOLFK GLH LGHDOVWH DOOHU 0HWKRGHQ VSLULWXHOOHU (QWZLFN OXQJ GD VLH GLH $QDO\VH XQG DQVFKOLHHQGH 6WLPXODWLRQ DOOHU HLQ]HOQHQ )lKLJNHLWHQ XQG .UlIWH XPIDW 6LH I|UGHUW GLH (QW ZLFNOXQJGHUVFK|SIHULVFKHQ.UDIWXQGGHUVSLULWXHOOHQ,OOXPLQDWLRQ 'RFK LVW GLH SHUV|QOLFKH %HJDEXQJ KLHUEHL HEHQVR ZLH EHL GHU 'LYLQDWLRQ HLQ VR ZLFKWLJHU )DNWRU GD HV XQJHUHFKW ZlUH GLH 0DJLH DOV :LVVHQVFKDIW ]X EH]HLFKQHQ REJOHLFK JHJHQ GLH (WL NHWWLHUXQJGHU0DJLHDOVHLQHU©.XQVWªVSULFKWGDGLHVHV(WLNHWWGLH WDWVlFKOLFKH:LUNXQJVZHLVHGHU0DJLHHKHUYHUVFKOHLHUW'HUGULWWH XQGIUPHLQHQ=ZHFNLQPDQFKHU+LQVLFKW
ZLFKWLJVWH =ZHLJ GHU 0DJLH LVW GLH 9LVLRQ RGHU GLH /LFKWN|USHU 7HFKQLN 0LW GLHVHU 7HFKQLN ZHUGH LFK PLFK LP YRUOLHJHQGHQ .DSLWHO DXVVFKOLHOLFK EHIDVVHQ GD VLH (OHPHQWH HQWKlOW GLH PHLQHU 0HLQXQJ QDFK PHKU DOV MHGH DQGHUH 7HFKQLN GHQ $QIRU GHUXQJHQHLQHU:LVVHQVFKDIWHQWVSUHFKHQ 0DJLHXQG.DEEDOD
,FK PX PLFK EHLP/HVHU GDIUHQWVFKXOGLJHQGDLFKZHQQLFK EHU GLH 0DJLH VSUHFKH PLFK VWlQGLJ DXI GLH .DEEDOD EH]LHKH %HLGH %HUHLFKH VLQG VR VWDUN PLWHLQDQGHU YHUIORFKWHQ GD HV SUDNWLVFKXQP|JOLFKLVWVLHY|OOLJJHWUHQQWGDU]XVWHOOHQ.DEEDODLVW 7KHRULH XQG 3KLORVRSKLH 0DJLH GLH SUDNWLVFKH $QZHQGXQJMHQHU 7KHRULH ,Q GHU .DEEDOD JLEW HV HLQH JHRPHWULVFKH )LJXU GLHDOV /HEHQVEDXP EH]HLFKQHW ZLUG 'DEHL KDQGHOW HV VLFK XP HLQHQ V\PEROLVFKHQ 3ODQ VRZRKO GHV 8QLYHUVXPV LQ VHLQHQ ZLFKWLJVWHQ $VSHNWHQZLHDXFKGHV0LNURNRVPRV GHV0HQVFKHQ$XIGLHVHU .DUWH VLQG VR]XVDJHQ ]HKQ +DXSWNRQWLQHQWH DEJHELOGHW RGHU ]HKQ $NWLYLWlWVEHUHLFKH LQ GHQHQ GLH .UlIWH GLH GDV 8QLYHUVXP NRQ VWLWXLHUHQRGHUGLHLKP]XJUXQGHOLHJHQDXIGLHLKQHQHQWVSUHFKHQGH $UW ZLUNHQ %H]RJHQ DXI GHQ 0HQVFKHQ NDQQ PDQ GLHVH ]HKQ %HUHLFKH DOV ]HKQ )DFHWWHQGHV%HZXWVHLQVEH]HLFKQHQDOV]HKQ $UWHQ JHLVWLJVSLULWXHOOHU $NWLYLWlW 'LHVH ]HKQ .DWHJRULHQ ZHUGHQ 6HSKLURWKJHQDQQWVLHKH7HLO]ZHL©.DEEDODIU$QIlQJHUª :LU ZROOHQ XQV QXQ PLW GHU6HSKLUDK RGHU GHP IHLQVWRIIOLFKHQ $VSHNWGHV8QLYHUVXPVEHVFKlIWLJHQGHQGLH.DEEDOLVWHQIHVRG 6SKlUH GHV )XQGDPHQWV ª QHQQHQ 6LH LVW 7HLO GHV $VWUDOHQ /LFKWV HLQH RPQLIRUPH (EHQH PDJQHWLVFKHU HOHNWULVFKHU XQG DOOJH JHQZlUWLJHU6XEVWDQ]GLHGLHJHVDPWHVLFKWEDUHXQGZDKUQHKPEDUH :HOWGXUFKGULQJWXQGLKU]XJUXQGHOLHJW6LHIQJLHUWDOVHLQHPHKU RGHU ZHQLJHU GDXHUKDIWH )RUP QDFK ZHOFKHU GLH SK\VLVFKH :HOW NRQVWUXLHUW ZLUG ZREHL LKUH HLJHQH $NWLYLWlW XQG LKUH VWlQGLJH 9HUlQGHUXQJDOVNRPSHQVLHUHQGHU)DNWRUGLH6WDELOLWlWGLHVHU:HOW VLFKHUVWHOOW ,Q GLHVHU :HOW LVW GLH '\QDPLN YRQ *HIKO9HUODQJHQ XQG (PRWLRQZLUNVDPXQGVRZLHGLH$NWLYLWlWHQGHUSK\VLVFKHQ :HOW YRQ 0RGDOLWlWHQ ZLH +LW]H XQG .lOWH 9HUGLFKWXQJ .RPSUHVVLRQ XQG$XVGHKQXQJ'LIIXVLRQ EHVWLPPWZHU
GHQ ZLUNHQ DXI GHU $VWUDOHEHQH $Q]LHKXQJ XQG $EVWRXQJ /LHEH XQG+D (LQHZHLWHUH)XQNWLRQGLHVHU(EHQHLVWDOV*HGlFKWQLVGHU1DWXU]X GLHQHQLQZHOFKHPDXWRPDWLVFKXQGDXJHQEOLFNOLFKMHGH+DQGOXQJ GHV 0HQVFKHQ XQG MHGHV 3KlQRPHQ GHV 8QLYHUVXPV VHLW XQYRUGHQNOLFKHQ =HLWHQ ELV ]XP KHXWLJHQ 7DJ DXIJH]HLFKQHW ZLUG (OLSKDV /HYL HLQ 0DJLHU GHV QHXQ]HKQWHQ -DKUKXQGHUWV KDW EHU GLHVHV $VWUDOH /LFKW JHVFKULHEHQ ©(V JLEW HLQ $JHQV GDV QDWUOLFK XQG J|WWOLFK LVW PDWHULHOO XQG VSLULWXHOO HLQ XQLYHUVDOHU IRUPEDUHU 9HUPLWWOHU HLQ DOOJHPHLQHV *HIl IU GLH 6FKZLQJXQJHQ GHU %HZHJXQJ XQG IU GLH $EELOGHU GHU )RUPHQ HLQH )OVVLJNHLW XQG HLQH .UDIW GLH PDQ JHZLVVHUPDHQ DOV ,PDJLQDWLRQ GHU 1DWXU EH]HLFKQHQ N|QQWH ª $XFK EULQJW HU VHLQH hEHU]HXJXQJ ]XP $XVGUXFN GD GLHV ©GLH JHKHLPQLVYROOH .UDIW >VHL@ GHUHQ *OHLFK JHZLFKWV]XVWDQG JHVHOOVFKDIWOLFKHV /HEHQ )RUWVFKULWW XQG =LYLOL VDWLRQ EHGHXWHW ZlKUHQG LKUH 6W|UXQJ $QDUFKLH 5HYROXWLRQ XQG %DUEDUHL ]XU )ROJH KDW DXV GHUHQ &KDRV VLFK VFKOLHOLFK HLQ QHXHU *OHLFKJHZLFKWV]XVWDQG HQWZLFNHOW GHU .RVPRV HLQHU QHXHQ 2UGQXQJ QDFKGHP HLQH QHXH 7DXEH EHU GHQ VFKZDU]HQ XQG DXIJHZKOWHQ*HZlVVHUQJHVFKZHEWKDWª 'DV$VWUDOH/LFKWXQGGDVNROOHNWLYH8QEHZXWH
(V LVW LQWHUHVVDQW YRQ GLHVHP WKHXUJLVFKHQ .RQ]HSW DXV HLQHQ %OLFN DXI HLQ SV\FKRORJLVFKHV .RQ]HSW ]X ZHUIHQ ZHOFKHV HUVWH UHP VHKU VWDUN lKQHOW 'HU IROJHQGH $EVFKQLWW LVW PHKU RGHU ZHQLJHU HLQH 3DUDSKUDVH EHU -XQJV 7KHRULH GHV NROOHNWLYHQ 8QEH ZXWHQHLQHU6FKULIW-XQJVPLWGHP7LWHO$QDO\WLVFKH3V\FKRORJLH XQG:HOWDQVFKDXXQJ HQWQRPPHQ(VKDQGHOWVLFKXPHLQHQlKHUH $XVIKUXQJGHUEHUHLWV]LWLHUWHQ,GHHQ-XQJGHILQLHUWGDVNROOHNWLYH 8QEHZXWH]XQlFKVWHLQPDODOVGLHDOOHVEHKHUUVFKHQGH$EODJHUXQJ GHU(UIDKUXQJXQVHUHU9RUIDKUHQDXV0LOOLRQHQYRQ-DKUHQDOVGDV (FKRSUlKLVWRULVFKHU:HOWHUHLJQLVVH]XZHOFKHP 'LHVLVWZRKOHLQ%H]XJDXIGLHLQGHU*HQHVLVEHVFKULHEHQH6]HQHQDFK GHU6LQWIOXW$QPGhEHUV &*-XQJ©$QDO\WLVFKH3V\FKRORJLHXQG:HOWDQVFKDXXQJª-*:%G 6
MHGHV -DKUKXQGHUW HLQHQ YHUJOHLFKVZHLVH ZLQ]LJHQ %HLWUDJ DQ 9D ULDWLRQ XQG 'LIIHUHQ]LHUXQJ KLQ]XIJW 'D HV VLFK OHW]WOLFK XP HLQH $EODJHUXQJ YRQ :HOWHUHLJQLVVHQ KDQGHOW GLH LP *HKLUQ XQG LQ GHU 6WUXNWXU GHV V\PSDWKLVFKHQ 1HUYHQV\VWHPV ]XP $XVGUXFN NRPPW HQWVWHKW LQVJHVDPW HLQH $UW ]HLWORVHV :HOWELOG ZHOFKHP LP *HJHQVDW] ]X XQVHUHP DXJHQEOLFNOLFKHQ EHZXWHQ %LOG YRQ GHU :HOW HLQ JHZLVVHU (ZLJNHLWVDVSHNW HLJHQ LVW 'LH (QHUJLH GLHVHV %LOGHV LVW YRP %HZXWVHLQ XQDEKlQJLJ 'XUFK VLH ZLUG XQVHUH 3V\FKH DXI PDFKWYROOH :HLVH YRQ GHQ GXQNOHQ %HUHLFKHQ LQ XQ VHUHP ,QQHUHQ EHHLQIOXW 'LHVH (LQIOVVH EOHLEHQ IU MHGHQ XQ VLFKWEDU GHP HV QLFKW JHOXQJHQ LVW GDV YHUJlQJOLFKH %LOG GHU :HOW HLQHU DGlTXDWHQ .ULWLN ]X XQWHU]LHKHQ XQG GHU VLFK GHVKDOE VHOEVW LPPHU QRFK UlWVHOKDIW LVW 'D GLH :HOW QLFKW QXU HLQHQ lXHUHQ VRQGHUQ DXFK HLQHQ LQQHUHQ $VSHNW KDW XQG GD VLH QLFKW QXU lXHUOLFK VLFKWEDU LVW VRQGHUQ DXFK PDFKWYROO DXV GHP WLHIVWHQ XQGVXEMHNWLYVWHQ+LQWHUODQGGHU3V\FKHLQ]HLWORVHU*HJHQZlUWLJNHLW DXI XQV HLQZLUNW GLHV KlOW -XQJ IU HLQH )RUP YRQ :LVVHQ ZHOFKHV XQJHDFKWHW GHU 7DWVDFKH GD HV VLFK GDEHL XP XUDOWHV :LVVHQ KDQGHOW DOV ZLFKWLJHU QHXHU )DNWRU EHL GHU (QWZLFNOXQJ HLQHU SKLORVRSKLVFKHQ :HOWVLFKW QLFKW XQWHUVFKlW]W ZHUGHQ VROOWH 0HLQHU 0HLQXQJ QDFK LVW GDV ZDV GLH 0DJLHU DOV $VWUDOHV /LFKW EH]HLFKQHQ OHW]WOLFK PLW GHP NROOHNWLYHQ 8QEHZXWHQ GHU PR GHUQHQ3V\FKRORJLHLGHQWLVFK 0LWWHOV GHU WUDGLWLRQHOOHQ WKHXUJLVFKHQ 3UDNWLNHQ NDQQ PDQ ]X GLHVHU (EHQH EHZXW .RQWDNW DXIQHKPHQ LKU /HEHQ XQG LKUHQ (LQIOX HUIDKUHQ PLW LKUHQ VRJHQDQQWHQ %HZRKQHUQ GHQ (OH PHQWDUZHVHQ XQG (QJHOQ VSUHFKHQ XQG DQVFKOLHHQG EHL Y|OOL JHP %HZXWVHLQ XQG PLW YROOVWlQGLJHU (ULQQHUXQJ DQ MHQH (UIDKUXQJ DXI GLH (EHQH GHV QRUPDOHQ %HZXWVHLQV ]XUFNNHKUHQ 1DWUOLFK HUIRUGHUW GLHV 7UDLQLQJ :HQQ HLQ 0HQVFK GLH IU ZLVVHQVFKDIWOLFKH )RUVFKXQJ QRWZHQGLJH NULWLVFKH %HREDFKWXQJV IlKLJNHLW HUZHUEHQ ZLOO PX HU GDV IU VHLQ 6WXGLHQJHELHW HUIRUGHU OLFKH ZLVVHQVFKDIWOLFKH $%& HUOHUQHQ XQG VLFK PLW GHQ )RUVFKXQJVHUJHEQLVVHQ VHLQHU 9RUJlQJHU LQ GLHVHP VSH]LHOOHQ %H UHLFK YHUWUDXW PDFKHQ 1LFKW ZHQLJHU VROOWH PDQ DXFK LQ GHU 0DJLH HUZDUWHQ 'RFK OHLGHU ZHUGHQ LQ GLHVHP %HUHLFK QXU ]X RIW :XQGHU HUZDUWHW RKQH GD GLHMHQLJHQ GLH GLHVH (UZDUWXQJHQ KHJHQ VLFK HLQHU LQWHQVLYHQ 9RUEHUHLWXQJ XQWHU]RJHQ KlWWHQ -HGHU GHU DXFK QXUEHUHLQJHZLVVHV0LQGHVWPDDQYLVXHOOHU9RUVWHOOXQJVNUDIW
YHUIJWNDQQGD]XDQJHOHLWHWZHUGHQLQNXU]HU=HLWGLHHOHPHQWDUHQ PDJLVFKHQ 7HFKQLNHQ ]X HUOHUQHQ GLH HV HLQHP 0HQVFKHQ HUP|JOLFKHQ GLH VXEWLOHUHQ $VSHNWH GHV /HEHQV XQG GHV 8QLYHU VXPV ]X HUIRUVFKHQ 'LHVH ©IDUELJH :HOWª ]X WUDQV]HQGLHUHQ XQG =XWULWW ]X GHQ K|KHUHQ 5HLFKHQ GHU 6HHOH XQG GHV *HLVWHV ]X HUODQJHQ LVW HLQH JDQ] DQGHUH 6DFKH GLH DQGHUH )lKLJNHLWHQ XQG DQGHUH .UlIWH HUIRUGHUW LQVEHVRQGHUH HLQH OHLGHQVFKDIWOLFKH +LQ JDEHXQGHLQLQWHQVLYHV6WUHEHQQDFKGHP+|FKVWHQ 'RFK OHW]WHUHV LVW LP $XJHQEOLFN QLFKW PHLQ 7KHPD REJOHLFK HV GDV SXOVLHUHQGH +HU] XQG GHU ZLFKWLJVWH $VSHNW GHU 7KHXUJLH LVW 9LHOPHKUZHUGHLFK PLFKMHW]WPLWGHPZLVVHQVFKDIWOLFKHQ$VSHNW GHU0DJLHPLWLKUHPOHLFKWHUYHULIL]LHUEDUHQ$VSHNWEHVFKlIWLJHQ $Q DQGHUHU 6WHOOH KDEH LFK DOV WUDGLWLRQHOOH (LJHQVFKDIWHQ RGHU $VVR]LDWLRQHQ ]XU JHQDQQWHQ 6SKlUH YRQ -HVRG` GLH IROJHQGHQ 6\PEROHDQJHJHEHQ,KU3ODQHWLVWQDFKGHUhEHUOLHIHUXQJGHU0RQG LKU (OHPHQW GLH /XIW LKUH =DKO GLH 1HXQ LKUH )DUEH3XUSXU QDFK HLQHUDQGHUHQ7UDGLWLRQLVWHV6LOEHU'LH3HUOHXQGGHU0RQGVWHLQ VLQG GLH LKU ]XJHRUGQHWHQ (GHOVWHLQH $ORH LVW LKU'XIW XQG LKU VRJHQDQQWHU *RWWHVQDPH LVW6KDGGDL (O &KDL 'HU LKU ]XJHRUGQHWH (U]HQJHOLVW*DEULHOLKU&KRUGHU(QJHOVLQGGLHYLHU&KHUXELPGLH GLH (OHPHQWH EHKHUUVFKHQ XQG LKUH JHRPDQWLVFKHQ6\PEROH VLQG 3RSXOXVXQG9LD'LH7DURWV\PEROHGLHGLHVHU6SKlUHDQJHK|UHQ VLQG GLH 1HXQHQ GHU YLHU )DUEHQ XQG DXFK GLHHLQXQG]ZDQ]LJVWH 7UXPSINDUWH©'LH:HOWªLVWHQJPLW-HVRGYHUEXQGHQ$XIGLHVHP 7UXPSI LVW HLQH ZHLEOLFKH *HVWDOW XPJHEHQ YRQ HLQHU JUQHQ *LUODQGH DEJHELOGHW 'LHVH 7UXPSINDUWHZLUG GHP 3IDG GHV 6DWXUQ ]XJHRUGQHW GHU GLH PDWHULHOOH (EHQHPLW -HVRG YHUELQGHW 'RFK ZLH NRPPHQ GLHVH 6\PEROH XQG 1DPHQ ]XVWDQGH" :RKHU VWDPPHQ VLH" 8QG ZDUXP ZHUGHQ VLH DOV (LJHQVFKDIWHQ RGHU (QWVSUHFKXQJHQ MHQHU 6HSKLUDK EH]HLFKQHW GHUHQ 1DPH ©GDV )XQGDPHQWªLVW" =XQlFKVW HLQPDO VHL JHVDJW GD 0HGLWDWLRQ GLH 7DWVDFKH HQW KOOHQ ZLUG GD VLFK DOOH HUZlKQWHQ 6\PEROH LQ HLQHU QDWUOLFKHQ +DUPRQLH XQG $IILQLWlW ]XHLQDQGHU EHILQGHQ REZRKO GLHVH P|JOLFKHUZHLVH DXI GHQ HUVWHQ %OLFN QLFKW VR OHLFKW ]X HUNHQQHQ VLQG%HLVSLHOVZHLVHLVWGHU0RQGDXVXQVHUHULUGLVFKHQ3HUVSHNWLYH GHU +LPPHOVN|USHU GHU VLFK DP VFKQHOOVWHQ EHZHJW (U UHLVW LQ XQJHIlKU7DJHQGXUFKDOOH]Z|OI=HLFKHQGHV7LHUNUHLVHV'DULQ LVWLPSOL]LWGLH,GHHGHUVFKQHOOHQ9HUlQGHUXQJHQWKDOWHQ
ZRGXUFKVLFKGDV.RQ]HSWHQWKOOWGDGLH$VWUDOHEHQHREJOHLFKHV VLFK GDEHL XP HLQH IDVW ]HLWORVH XQG HZLJH $EODJHUXQJ GHU :HOWHUHLJQLVVH KDQGHOW QLFKWVGHVWRZHQLJHU GHU 8UVSUXQJ IU 0XWDWLRQHQ XQG 9HUlQGHUXQJHQ LVW ZHOFKH VSlWHU GLH SK\VLVFKH :HOWEHHLQIOXVVHQ VRZLHMHGHU+DQGOXQJ,PSXOVXQG*HGDQNHQ YRUDXVJHKHQ PVVHQ 'DV (OHPHQW GLHVHU6HSKLUDK LVW /XIW HLQ VXEWLOHV DOOHV GXUFKGULQJHQGHV 0HGLXP GDV PLW GHP $VWUDOHQ /LFKW VHOEVW YHUJOHLFKEDU LVW HLQ 0HGLXP RKQH ZHOFKHV /HEHQ SUDNWLVFK XQP|JOLFK LVW'LH 1HXQ LVW GLH OHW]WH =LIIHU XQG GLH 4XHUVXPPH DOOHU YRUDQJHJDQJHQHQ =DKOHQ HUJLEW HEHQIDOOV QHXQ 6LH EOHLEW LPPHU VLH VHOEVW ZHQQ PDQ VLH ]X VLFK VHOEVW DGGLHUW ZHQQPDQVLHPLWVLFKVHOEVWPXOWLSOL]LHUWRGHUZHQQPDQVLHYRQ VLFK VHOEVW VXEWUDKLHUW ZDV DXI GLH JUXQGOHJHQGH DOOXPIDVVHQGH VLFKVHOEVWHUKDOWHQGH1DWXUGHV5HLFKVYRQ-HVRGKLQGHXWHW 1RFK ZLFKWLJHU LVW MHGRFK YRP ZLVVHQVFKDIWOLFKHQ 6WDQGSXQNW DXV EHWUDFKWHW GD GLHVH 'LQJH 1DPHQ XQG 6\PEROH LQ MHQHU 6SKlUH YRQ +HOOVLFKWLJHQ LQ*HLVW9LVLRQHQ JHVHKHQ ZHUGHQ $OV IXQGLHUWHU %HZHLV IU GLH $OOJHPHLQJOWLJNHLW GHU HUZlKQWHQ $W WULEXWHN|QQWHGLH7DWVDFKHJHOWHQGDGLHVHWUDGLWLRQHOOHQ6\PEROH YRQ YHUVFKLHGHQHQ 0HQVFKHQ DQ XQWHUVFKLHGOLFKHQ 2UWHQ XQG ]X XQWHUVFKLHGOLFKHQ =HLWHQ LQ ]DKOORVHQ 9LVLRQHQ XQG DXI ]DKOORVHQ $VWUDOUHLVHQ LQ G\QDPLVFKHU XQG HUVWDXQOLFK GUDPDWLVFKHU XQG OHEHQGLJHU)RUPJHVFKDXWZXUGHQ ([SHULPHQWHOOH9HULIL]LHUXQJ
:LH EHUHLWV HUZlKQW LVW 0DJLH HLQ SUDNWLVFKHV 6\VWHP XQG DOOH 7HLOH GLHVHV 6\VWHPV VLQG IUGHQ H[SHULPHQWHOOHQ *HEUDXFK JH VFKDIIHQ ZRUGHQ$OOH7HLOHGHU0DJLHODVVHQVLFKEHL$QZHQGXQJ DGlTXDWHU 0HWKRGHQ YHULIL]LHUHQ -HGHU 6WXGHQW GHU 0DJLH NDQQ GLHV VHOEVWEHUSUIHQXQGVRGLH5HDOLWlW VHLQHUHLJHQHQJ|WWOLFKHQ 1DWXUVRZLHDXFKGHVLQQHUHQXQGlXHUHQ8QLYHUVXPVHQWGHNNHQ XQDEKlQJLJGDYRQZDVLUJHQGMHPDQGLQ%FKHUQJHVFKULHEHQKDEHQ PDJ :LU ELWWHQ XP GDV ([SHULPHQW ZLU IRUGHUQ HV VRJDU XPGHU 0HQVFKKHLW ZLOOHQ :LU ODGHQ GHQ HUQVWKDIWHQ XQG DXIULFKWLJHQ 6WXGLHUHQGHQHLQVHOEVWPLWGHULQ.DSLWHOPHLQHV%XFKHV7KH ,QGHU4XHUVXPPH$QPGhEHUV
7UHH RI /LIH EHVFKULHEHQHQ 7HFKQLN ]X H[SHULPHQWLHUHQ XQG DQ VFKOLHHQGVHLQH(UJHEQLVVHGLH5HLVH]XMHGHP3IDGRGHU]XMHGHU 6HSKLUDKPLWGHQLQHLQHPDQGHUHQPHLQHU %FKHU $*DUGHQRI 3RPHJUDQDWHV RGHU LQ 'LRQ )RUWXQHV %XFK'LH P\VWLVFKH .DE EDOD DXIJHIKUWHQ 6\PEROHQ ]X YHUJOHLFKHQ ,FK ELQ PLU Y|OOLJ VLFKHU GD KXQGHUW DXI GLH EHVFKULHEHQH :HLVH GXUFKJHIKUWH $VWUDOUHLVHQ LQMHGHP )DOO PLW GHQ ZLFKWLJVWHQ 6\PEROHQ 1DPHQ =DKOHQXQG,GHHQEHUHLQVWLPPHQZHUGHQGLHLQGHQYHUVFKLHGHQHQ %FKHUQEHUGLH.DEEDODJHQDQQWZHUGHQ ,FK P|FKWH DQ GLHVHU 6WHOOH HLQH EHGHXWXQJVYROOH 3DVVDJH DXV GHQ $XI]HLFKQXQJHQ HLQHV .ROOHJHQ ]LWLHUHQ (VKDQGHOWVLFKGDEHL XP HLQH©9LVLRQªRGHUXPHLQHQ:DFKWUDXP HLQH3KDQWDVLHEHU GHQVRJHQDQQWHQ3IDG ©:LU PDUVFKLHUWHQ HLQH EUHLWH LQGLJRIDUEHQH 6WUDH KLQXQWHU 'HU 1DFKWKLPPHO ZDU ZRONLJ VWHUQHQORV 'LH 6WUDH HUKRE VLFK EHU GLH QRUPDOH %RGHQIOlFKH $XI EHLGHQ 6HLWHQ ODJ HLQ .DQDO KLQWHU GHP ZLU GLH /LFKWHU YRQ HWZDV VDKHQ ZDV ZLH HLQH JURH 6WDGW DXVVDK 6R JLQJHQ ZLUODQJH=HLWZHLWHUGDQQEHPHUNWHLFKDEHULQGHU)HUQH HLQHZLQ]LJH )UDXHQJHVWDOW ZLH HLQH 0LQLDWXU VLH VFKLHQ QDFNW ]X VHLQ DEHU DOV VLH QlKHU NDP VDK LFK HLQHQ 6FKDO XP VLH ZHKHQ 6LH WUXJ HLQH 6WHUQHQ NURQH DXI GHP.RSI XQG KLHOW]ZHL 6WlEH LQ GHQ +lQGHQ 6LH NDPVHKU UDVFKDXIXQV]XXQGLFKVFKDXWHIDV]LQLHUWDXIHLQH3HUOHQNHWWHGLHYRQ LKUHP+DOVELVDXIGLH.QLHKHUDEKLQJ XQGZlKUHQGLFKVWDUUWHPHUNWH LFK GD ZLU GXUFK GHQ 3HUOHQNUHLV KLQGXUFKJHJDQJHQ ZDUHQ XQG VLH YHUVFKZXQGHQZDUª
'HU 6WXGHQW GHU .DEEDOD GHU ]XPLQGHVWIOFKWLJ PLW GHU 6\PEROLN GHV 7DURW YHUWUDXW LVW ZLUG KLHU GLH GHU JURHQ $UNDQD ©'LH :HOWª HUNHQQHQ GHQ 3IDG GHU 6DWXUQ ]XJHVFKULHEHQ ZLUG XQG GHU GLH SK\VLVFKH PLW GHU DVWUDOHQ :HOW YHUELQGHW 'HU 8QNXQGLJH ZLUG ZDKUVFKHLQOLFK K|FKVW HUVWDXQW VHLQ]XHUIDKUHQGDGLH6\PEROH DXI GHQ 7DURWNDUWHQ '\QDPLN XQG lXHUVW YLWDOH (QHUJLHQ UHSUl VHQWLHUHQ'RFKP|FKWHLFKQXQPLWHLQHUNXU]HQ%HVFKUHLEXQJGHV (LQWULWWVLQ-HVRGIRUWIDKUHQ ©-HW]WZDUGHU+LPPHONODUXQGYROOHU6WHUQHG HU0RQGHLQJURHU JHOEHU(UQWHPRQGHUKREVLFKODQJVDPLQYROOHP%RJHQLQGHQ+LPPHO
6LHKH DXFK , 5HJDUGLH 'DV PDJLVFKH 6\VWHPGHV*ROGHQ'DZQ DD2 %G,,6I
XQG ZLUVDKHQZLHGUHL0RQGVWUDKOHQDXIGLHKRKHQYLROHWWHQ:l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|IIQHWHQ+lQ GHQ JHKDOWHQZXUGH:LUIROJWHQGHQ$UPHQKLQDXIXQGVDKHQZHLWREHQ QDKH GHP 'DFK WLHIH GXQNOH $XJHQ GLH XQV DQVFKDXWHQ GXQNHO ZLH GHU 1DFKWKLPPHOXQGHLQH6WLPPHVSUDFKª
(VHUEULJWVLFKGHQ5HVWGHV=LWDWVKLHUQRFKDQ]XIKUHQGDGLH RELJH 3DVVDJH RKQHKLQ QXU UH]LWLHUW ZXUGH XP GHP /HVHU HLQHQ (LQGUXFN YRQ GHU %HVFKUHLEXQJ GHU $VWUDOHEHQH LQ GHQ /HKU EFKHUQ ]X JHEHQ XQG XP LKQ DXI GDV $XIWDXFKHQ GHU ZLFKWLJVWHQ 6\PEROH GLHVHU (EHQH LQ GLHVHU 9LVLRQ KLQ]XZHLVHQ VRZLH DXI GLH G\QDPLVFKH )RUP GHU 'DUVWHOOXQJ 'HU 6WXGLHUHQGH P|JH VHLQ $XJHQPHUNDXIGLHNRUUHNWHQ=DKOHQ)DUEHQSODQHWDUHQ$WWULEXWH XQGYRUDOOHPDXIGHQ+LQZHLVULFKWHQGHUDQJLEWDXIZHOFKH:HLVH PDQZHUWYROOHV:LVVHQHUODQJHQNDQQ$FKWHQ6LHDXIGLHYLHU7RUH GHV 7HPSHOV VLH UHSUlVHQWLHUHQ GLH YLHU (OHPHQWH )HXHU:DVVHU /XIW XQG (UGH 'HQQ GLHVH $VWUDOZHOW ZLUG DXFK DOV bWKHU EH]HLFKQHW IU ZHOFKHQ GDV (OHPHQW /XIW HLQ (UVDW] LVW DOV GDV IQIWH(OHPHQW XQG GLH4XLQWHVVHQ]GHUQLHGHUHQ(OHPHQWH DOVGHU 7HPSHO]XZHOFKHPGLHEULJHQ(OHPHQWHQXU7RUHVLQG ,P =HQWUXP GHV 7HPSHOV KLQJ HLQH .XJHO P|JOLFKHUZHLVH HLQ 6\PERO IU GDV (OHPHQW /XIW ZHOFKHV QDFK GHP 7DWWZD6\VWHP GHU +LQGXV GXUFK HLQH EODXH .XJHO UHSUlVHQWLHUW ZLUG 9RU MHGHU 7UH VWHKW HLQ (QJHO 'LHV VLQG GLH YLHU &KHUXELP GLH VWHOOYHUWUH WHQGHQ 5HJHQWHQ GHU YLHU .DUGLQDOYLHUWHO +LPPHOVULFKWXQJHQ XQG (OHPHQWH GLH MHZHLOV EHU HLQ EHVWLPPWHV (OHPHQWDUUHLFK KHUUVFKHQ ZHOFKHV VLFK XQWHU GHU +HUUVFKDIW HLQHV %XFKVWDEHQV GHV7HWUDJUDPPDWRQVEHILQGHW0|JOLFKHUZHLVHKDQGHOWHVVLFK 6LHKH,5HJDUGLH'DVPDJLVFKH6\VWHPGHV*ROGHQ'DZQ DD2%G,, 6I
KLHU VR]XVDJHQ XP 5HSUlVHQWDWLRQHQ GHU LQQHUSV\FKLVFKHQ %H JUHQ]XQJHQ GHV 5DXPV GHU 6HHOH GHUHQ )HKOHQ HLQ +LQZHLV DXI HLQHXQJHVXQGH$XVEUHLWXQJRGHU'H]HQWUDOLVLHUXQJGHV%HZXWVHLQV ZlUH $XFK GLH YLHU .DUGLQDOSXQNWH GHV 5DXPV ZHUGHQ GXUFK GLHVH YLHU (QJHOVJHVWDOWHQ UHSUlVHQWLHUW HEHQIDOOV .RQNUHWLVLHUXQJHQ GHV 'RSSHOSDDUV GHU PRUDOLVFKHQ *HJHQVlW]H 'HU 2VWHQ LVW GHP :HVWHQ HQWJHJHQJHVHW]W GHU 1RUGHQ GHP 6GHQ XQG MHGHU GLHVHU YLHU +LPPHOVULFKWXQJHQ LVW HLQH EHVWLPPWH PRUDOLVFKH 4XDOLWlW RGHU HLQH SV\FKLVFKH )XQNWLRQ ]XJHRUGQHW 'DV *HIKO VLFK DQ HLQHPOXIWLJHQ2UW]XEHILQGHQZRHLQHOHLFKWH%ULVHZHKWEHLQKDOWHW GLH IRUPDOHQ $WWULEXWH GHV (OHPHQWV /XIW HLQH PHUNZUGLJH %HVWlWLJXQJGHU'XDOLWlWGHU%HGHXWXQJGLHLQGHP%HJULII3QHXPD :LQG XQG J|WWOLFKHU *HLVW HQWKDOWHQ LVW HLQH 'XDOLWlW GLH HV QLFKW QXU LP *ULHFKLVFKHQ VRQGHUQ DXFK LP +HEUlLVFKHQ XQG $UDELVFKHQVRZLHLQYLHOHQSULPLWLYHQ6SUDFKHQJLEW 'LH5HDOLWlWGHU0DJLH
,P /DXIH GHU -DKUKXQGHUWH ZXUGHQ YLHOH 0HQVFKHQ GDULQ JHVFKXOW -HVRG XQG GLH EULJHQ 6HSKLURWK]X NRQWDNWLHUHQ 2EJOHLFK MHGH 9LVLRQ VLFK LP 'HWDLO XQG LQ GHU )RUP YRQ GHU KLHU ]LWLHUWHQ OHLFKW XQWHUVFKHLGHW LVW HLQH HUVWDXQOLFKH hEHUHLQVWLPPXQJ KLQVLFKWOLFK GHU ZHVHQWOLFKHQ V\PEROLVFKHQ (OHPHQWH IHVW]XVWHOOHQ 'LHV LVW HLQ HLQGHXWLJHU ZLVVHQVFKDIWOLFKHU %HZHLV IU GLH HUKDEHQH 5HDOLWlW GHU:HOWGHU0DJLHXQGGHPRQVWULHUWJOHLFK]HLWLJGLH0|JOLFKNHLW LQ GLHVHP %HUHLFK VHOEVW ]X H[SHULPHQWLHUHQ XQG ]X IRUVFKHQ :LVVHQVFKDIWOLFKH)RUVFKXQJLVWLQGHU:HOWDVWUDOHURGHUXQEHZXWHU :LUNOLFKNHLWHQP|JOLFKZHLOHVVLFKGDEHLXPREMHNWLYH(LQIOVVH KDQGHOWGLH:LUNXQJHQHU]HXJHQXQGGLH0HQVFKKHLWEHHLQIOXVVHQ 'LHVH 6SKlUH LVW GDV 'HSRW GHU :HOWHUIDKUXQJ DOOHU =HLWHQ XQG GHVKDOE HLQ %LOG GHU :HOW GDV VLFK EHU bRQHQ JHELOGHW KDW HLQ %LOG LQ ZHOFKHP GHU /DXI GHU =HLW JHZLVVH %HVWDQGWHLOH GLH VRJHQDQQWHQ 'RPLQDQWHQ KHUDXVJHDUEHLWHW KDW 'LHVH 'RPLQDQWHQ VLQG GLH EHKHUUVFKHQGHQ .UlIWH GLH *|WWHU (U]HQJHO XQG (QJHO 5HSUlVHQWDWLRQHQ GRPLQLHUHQGHU *HVHW]H XQG 3ULQ]LSLHQ GLH LP .RVPRV ZLUNVDP VLQG8QGGDGLHVH:HOWLQGHU *HKLUQVWUXNWXU XQG LP V\PSDWKLVFKHQ 1HUYHQV\VWHP MHGHV ,QGLYLGXXPV ZLUNVDP LVW VWHKWVLHMHGHPRIIHQGHUGLH$QJVW]X
EHUZLQGHQ ZQVFKW GLH GXUFK MDKUKXQGHUWHODQJH IDOVFKH (U]LH KXQJ HQWVWDQGHQ LVW XQG GHU DXIV QHXH GLH G\QDPLVFKHQ $QWULHEH XQG(LQIOVVHGLHVHU:HOWHQWGHFNHQP|FKWH 0LW HLQ ZHQLJ *HVFKLFN NDQQ PDQ 7HVWV HQWZLFNHOQ XQG GXUFKIKUHQ XP GLH %H]LHKXQJ ]ZLVFKHQ JHRPHWULVFKHQ 6\P EROHQ GHQ PLWWHOV GHU /LFKWN|USHU7HFKQLN HUKDOWHQHQ 9LVLRQHQ XQG GHQ (QWVSUHFKXQJHQ GLHVHU )LJXUHQ VR ZLH VLH LQ GHQ 6FKULIWHQ EHVFKULHEHQ ZHUGHQ ]X XQWHUVXFKHQ (V KHLW GD GLH IQI (OH PHQWH )HXHU :DVVHU bWKHU/XIW XQG (UGH GHQ IQI 6SLW]HQ GHV 3HQWDJUDPPV ]X]XRUGQHQ VLQG -H QDFKGHP LQ ZHOFKH 5LFKWXQJ GLH/LQLHQZHLVHQLQYR]LHUWRGHUEDQQWGDV3HQWDJUDPPGLH:HVHQ GLH GHP MHZHLOLJHQ (OHPHQW ]XJHRUGQHW ZHUGHQ :HQQ PDQ EHLVSLHOVZHLVH GDV LQYR]LHUHQGH 3HQWDJUDPP GHV )HXHUV DQ GHQ YLHU .DUGLQDOYLHUWHOQ +LPPHOVULFKWXQJHQ DXVULFKWHW XQG GDQQ GLH ]XYRU GXUFK GLH /LFKWN|USHU7HFKQLN HQWZLFNHOWH VHQVLELOL VLHUWH 6LFKWZHLVH GDUDXI DQZHQGHW NDQQ PDQ EHREDFKWHQ GD IDVW DXJHQEOLFNOLFK GLH (OHPHQWDUZHVHQ GHV )HXHUV GLH 6DODPDQGHU DXIWDXFKHQ GLH SHUVRQDOLVLHUWHQ IHXULJHQ %HVWDQGWHLOH GHU HLJHQHQ 3V\FKH :HQQ PDQ DQVFKOLHHQG GDV EDQQHQGH 3HQWDJUDPP GHV )HXHUV ]HLFKQHW NDQQ PDQ EHREDFKWHQ ZLH GLH (OHPHQWDUZHVHQ GHV )HXHUV DXJHQEOLFNOLFK GDYRQHLOHQ XQG VLFK ZLHGHU LQ GDV 5HLFK GHV 8QEHZXWHQ ]XUFN]LHKHQ DXV GHP VLH VWDPPHQ XQG YRQ ZR VLHKHUEHLJHUXIHQZXUGHQ :HQQ GHU 6WXGLHUHQGH GLHVHV ([SHULPHQW LQ *HJHQZDUW HLQHV ]XYHUOlVVLJHQ+HOOVLFKWLJHQGXUFKIKUWRKQHGLHVHPJHJHQEHU ]X HUZlKQHQZHOFKHU$UWGLH)LJXULVWGLHHU]HLFKQHWVRZLUGDXFK GLHV K|FKVW DXIVFKOXUHLFKH (UJHEQLVVH ]XU )ROJH KDEHQ (LQLJH PHLQHU/HVHUZHUGHQQXQVLFKHUOLFKHLQZHQGHQKLHUKDQGHOH HVVLFK XP ©7HOHSDWKLHª 'RFK DXV PHLQHU 6LFKW ZLUIW GLHVHU (LQZDQG ZHLWDXV REVNXUHUH 3UREOHPH DXI DOVPHLQH RELJH (UNOlUXQJ JHJHQ ZHOFKH GHU (LQZDQG HUKREHQ ZXUGH 'HQQ DXFK GLH 7HOHSDWKLH HUIRUGHUW (UNOlUXQJHQ QDFK ZLVVHQVFKDIWOLFKHQ XQG YHUOlOLFKHQ 0DVWlEHQ GLH ]XU=HLW NDXPH[LVWLHUHQ'LHVHXQGHLQH9LHO]DKO DQGHUHU VWUHQJHU 7HVWV VWHOOHQ HLQGHXWLJH XQG SUl]LVH ZLVVHQVFKDIWOLFKH ([SHULPHQWH YRQ VLJQLILNDQWHU XQG LQ K|FKVWHP 0DHDXWRULWDWLYHU1DWXUGDU :HQQ PDQ GDYRQ DXVJHKW GD YHUVFKLHGHQH 0HQVFKHQ DXI JHZLVVHQ 3IDGHQ UHLVHQ XQG GDEHL (UIDKUXQJHQ PDFKHQ GHUHQ ZHVHQWOLFKH%HVWDQGWHLOHLGHQWLVFKVLQGRGHUGHUHQSV\FKLVFKH
'RPLQDQWHQ EHUHLQVWLPPHQ NDQQ PDQ GLH 0DJLH DOV HLQH NODU XPULVVHQH NRKlUHQWH :LVVHQVFKDIW EH]HLFKQHQ 6LH LVW SUl]LVH XQG JHQDX 0DJLH LVW GLH DNNXPXOLHUWH $XI]HLFKQXQJ SV\FKLVFKHU XQG VSLULWXHOOHU (UIDKUXQJHQ GLH ZLU DXV GHU 9HUJDQJHQKHLW HUHUEW KDEHQYRQIUKHUHQ*HQHUDWLRQHQGHU0HQVFKKHLW $QGHUHUVHLWV LVW NODU GD MHGH GLHVHU 9LVLRQHQ LQ LKUHU NRQNUHWHQ )RUP DOVR LP GUDPDWLVFKHQ 6LQQH GLIIHULHUW 'HU =XVDPPHQ KDQJ VR]XVDJHQ GHU ©$NWª RGHU GLH ©6]HQHª KlQJW Y|OOLJ YRQ SHUV|QOLFKHU(LJHQDUWLQWHOOHNWXHOOHU,QWHJULWlWXQGGHUVSLULWXHOOHQ )lKLJNHLW DE GLH :DKUKHLW ]X HQWGHFNHQ XQG DXI]XQHKPHQ JDQ] JOHLFK RE VLH IU GDV ,FK VFKPHU]OLFK LVW RGHU QLFKW :HQQ GDV SHUV|QOLFKH (OHPHQW HLQH VR PDFKWYROOH 5ROOH VSLHOW ZLH HV LQ GHU 0DJLH GHU )DOO LVW PX GDV $EHQWHXHU GHU 0DJLH DOV .XQVW EH ]HLFKQHW ZHUGHQ 'LH NUHDWLYH ,PDJLQDWLRQ HLQHV 0HQVFKHQ ZLUG GD]XEHQXW]WPLWWHOVHLQHUIHVWVWHKHQGHQ5HLKHYRQ6\PEROHQHLQH JDQ]H )ROJH YRQ LOOXPLQLHUHQGHQXQGEHZXWVHLQVHUZHLWHUQGHQ (UHLJQLVVHQ XQG (UIDKUXQJHQ ]XP $XVGUXFN ]X EULQJHQ GLH HLQHP 0HQVFKHQ RKQH MHQH ,PDJLQDWLRQVNUDIW Y|OOLJ XQVSHNWDNXOlU HUVFKHLQHQP|JHQ
=XP ,QWHOOHNWXDOLVPXV WHQGLHUHQGH 0HQVFKHQ PLW REHUIOlFKOLFKHQ .HQQWQLVVHQ GHU PRGHUQHQ 3V\FKRORJLH ZHUGHQ ZDKUVFKHLQOLFK DQQHKPHQ GD GLH 0DJLH QLFKWV DQGHUHV DOV GLH YHUERUJHQHQ 7LHIHQ GHV 8QEHZXWHQ HQWKOOH 6LH ZHUGHQ VDJHQ $VWUDOUHLVHQ VHLHQ PLW 7UDXPHUOHEQLVVHQ YHUJOHLFKEDU GLH GHU $UEHLW XQG GHU *HVWDOWXQJVNUDIW GHV 8QEHZXWHQ ]XJHVFKULHEHQ ZHUGHQ :DVIU HLQHQ 8QWHUVFKLHG PDFKW HV ZHQQ GLH .DEEDOLVWHQ GLHVH 6SKlUH RGHU GLHVH $UW GHV %HZXWVHLQV DOV GDV )XQGDPHQW RGHU DOV $VWUDOZHOW EH]HLFKQHQ ZlKUHQG GLH PRGHUQH 3V\FKRORJLH VLH DOV ©GDV 8QEHZXWHª EH]HLFKQHW" 'LH %HJULIIH VLQG YHUZDQGW XQG GLH 6\PEROH VLQG DXVWDXVFKEDU EHLGH EHGHXWHQ GDV JOHLFKH ZHQQ PDQ DOOH )DNWRUHQ HLQEH]LHKW:HQQGLH0DJLHEHU:DIIHQYHUIJWGLH GXUFKGULQJHQGHU XQG VFKlUIHU VLQG DOV GLH GHU :LVVHQVFKDIW VROOHQ ZLU GLHVH GDQQ DEOHKQHQ ZHLO GLH0DJLHGDV YHUUXIHQH +DXVLVWLQ GHP VLH DXIEHZDKUW ZHUGHQ" :HQQ 0HWKRGHQ GHU 0DJLH XQVHU JHKHLPHV 6HOEVW XQPLWWHOEDUHU ]X HQWKOOHQ YHUP|JHQ XQV GHQ XQJHKHXUHQ 6SHLFKHU GHU :HLVKHLW XQG 0DFKW LQ XQVHUHQ 6HHOHQ HUVFKOLHHQ XQG XQV ]HLJHQ GD ZLU GLHVH LQ XQVHUHP ,QQHUHQ VFKOXPPHUQGHQ.UlIWHLQHLQHU:HLVHEHKHUU
VHKHQ N|QQHQ ZLH HV ZHGHU GHU 3V\FKRDQDO\VH QRFK GHU PRGHUQHQ :LVVHQVFKDIW ELVODQJ JHOXQJHQ LVW VROOWHQ ZLUGDQQVRGXPPVHLQ XQVGLH9RUWHLOHGLHVHU0HWKRGH]XYHUVDJHQ" 0DJLH LVW HLQH ZLVVHQVFKDIWOLFKH 0HWKRGH XQG HLQH ZRKOIXQ GLHUWH 7HFKQLN ,KUH 6LFKW GHV 8QLYHUVXPVXQG GHV /HEHQVVLQQV LVW OHJLWLP :HQQ VLH XQV KLOIW YHUWUDXWHU GDPLW ]X ZHUGHQ ZDV ZLU ZLLNOLFK VLQGVRLVWVLHHLQH:LVVHQVFKDIW XQGHLQHVHKUZLFKWLJH 'HP :LVVHQVFKDIWOHU VRZRKO GHP 3V\FKRORJHQ DOV DXFK GHP 1DWXUZLVVHQVFKDIWOHU HU|IIQHWVLHHLQY|OOLJQHXHV8QLYHUVXPYRQ XQJHKHXUHU:HLWHXQG7LHIH:HQQHVLKUJHOLQJWXQV]XEHVVHUHQ 0lQQHUQ XQG )UDXHQ ]X PDFKHQ XQV HLQ ZHQLJ JWLJHU XQG JUR]JLJHU ]X PDFKHQ HLQ ZHQLJ EHZXWHU JHJHQEHU GHQ VSLULWXHOOHQ +|KHQ GLH ZLU PLW HLQ ZHQLJ $QVWUHQJXQJ ]X HUUHL FKHQ YHUP|JHQ GDQQ LVW GLH 0DJLH GLH 5HOLJLRQ GHU 5HOLJLRQHQ 8QG ZHQQ HV LKU JHOLQJWXQV ]X LQWHQVLYHUHQ %HPKXQJHQ XP HLQ VFK|QHUHV XQG NODUHUHV /HEHQ DQ]XVSRUQHQ ZHQQ VLH XQV GD]X DQWUHLEHQ VROO GDV +lOLFKH GDV /HLGHQ XQG GDV XQZUGLJH (OHQG DXVGHU:HOW]XVFKDIIHQGDQQLVWGLH0DJLHJDQ]VLFKHUHLQH.XQVW YRU GHU DOOH DQGHUHQ 0XVHQ LQ HKUHUELHWLJHP XQG HZLJHP /RE +DXSWXQG.QLHEHXJHQPVVHQ
0DJLHLQ2VWXQG:HVW
$OV LFK XQJHIlKU VLHE]HKQ -DKUH DOW ZDU OLHK PLU HLQ )UHXQG HLQ %XFKYRQ0DMRU/$:DGGHOOPLWGHP7LWHO/DPDLVP'DV%XFK EHHLQGUXFNWH PLFK GDPDOV XQJHKHXHU ]ZHLIHOORV QLFKW ]XOHW]W ZHJHQVHLQHVEHDFKWOLFKHQ8PIDQJV(VZDUHLQLQMHGHU+LQVLFKW VFKZHUJHZLFKWLJHU :lO]HU XQG VROFKH %FKHU JDOWHQ ]X MHQHU =HLW DOV,QEHJULIIGHU*HOHKUVDPNHLWXQGGHV:LVVHQV1DWUOLFKZXWH LFK QRFK QLFKWV EHU 0DJLH XQG DEJHVHKHQ YRQ HLQ SDDU $QGHXWXQJHQ DXV GHP %HUHLFK GHU 7KHRVRSKLH DXFK QRFK VR JXW ZLHQLFKWVEHUGHQ%XGGKLVPXV'HVKDOEPXGLH%HGHXWXQJXQG GLH XQJHKHXUH *HOHKUVDPNHLW GHV %XFKHV PLU EHL MHQHP HUVWHQ .RQWDNW JU|WHQWHLOV HQWJDQJHQ VHLQ REJOHLFK HV HLQH ZDKUH )XQGJUXEHLVW
,UJHQGZDQQ UFNWH GDV %XFK ]XP ]ZHLWHQPDO LQ PHLQHQ *H VLFKWVNUHLVDXFKGLHVPDOGXUFK9HUPLWWOXQJHLQHV)UHXQGHV'DLFK LQ GHQ -DKUHQ VHLW GHP HUVWHQ .RQWDNW HLQ ZHQLJ DQ :LVVHQ XQG (UIDKUXQJ JHZRQQHQ KDWWH EHJHLVWHUWH PLFK GHU ,QKDOW GHV :HUNV GLHVPDO ZHVHQWOLFK VWlUNHU VR GD LFK PLFK PLW XQJHKHXUHP ,QWHUHVVH HUQHXW GDPLW EHVFKlIWLJWH (LQ 3XQNW GHU PLU EHL GLHVHU ]ZHLWHQ $QQlKHUXQJ EHVRQGHUV LQV $XJH VSUDQJ ZDU GLH DXHU RUGHQWOLFKH bKQOLFKNHLW XQG VRJDU JUXQGOHJHQGH hEHUHLQVWLP PXQJ ]ZLVFKHQ GHQ K|FKVWHQ XQG JUXQGOHJHQGVWHQ PDJLVFKHQ ,GHHQ GHV 2VWHQV XQG GHV :HVWHQV 2E GLHV ZLH YLHOH 5HSUlVHQ WDQWHQ GHU |VWOLFKHQ :HLVKHLW EHKDXSWHQ GDPLW ]XVDPPHQKlQJW GD GLH RNNXOWH 3KLORVRSKLH XQG 3UD[LV GHV 2ULHQWV YRQ GHU ZHVWOLFKHQ =LYLOLVDWLRQ XQPLWWHOEDU EHUQRPPHQ ZRUGHQ LVW P|FKWH LFK DQ GLHVHU 6WHOOH GDKLQJHVWHOOW VHLQ ODVVHQ 'HQQRFK ELQ LFK GDYRQ EHU]HXJW GD HV LQ GHQ /lQGHUQ GHU ZHVWOLFKHQ :HOW HLQH JHKHLPH 7UDGLWLRQ SUDNWLVFKHU 0DJLH JHJHEHQ KDW HLQH 7UDGLWLRQ GLH GHQ VXEWLOHUHQ 7HLO LKUHV PDJLVFKHQ :LVVHQV MDKU KXQGHUWHODQJ PQGOLFK EHUOLHIHUWH 'LHVH 7UDGLWLRQ ZXUGH ]X DOOHQ =HLWHQ VR HLIHUVFKWLJ JHKWHW GD GLH PHLVWHQ 0HQVFKHQ QLFKW HLQPDO LP 7UDXP GDUDQ JHGDFKW KlWWHQ VR HWZDV N|QQH H[LVWLHUHQ 1XU VHKU ZHQLJH ZXUGHQ LQ MHQHU =HLW ZLH GXUFK XQ VLFKWEDUH VSLULWXHOOH .UDIWVWU|PH ]X GHQ YHUERUJHQHQ 3RUWDOHQ GHU 7HPSHOGLHVHUJHKHLPHQ/HKUHKLQJH]RJHQ *DQ] VHOWHQ WDXFKWHQ ZLQ]LJH 7HLOH GLHVHU VWUHQJ JHKWHWHQ 7UDGLWLRQ LQ %FKHUQ DXI (LQLJH GDYRQ VLQG GLH :HUNH YRQ -DP EOLFKXV LQ GHQHQ GHU VSlWHUHQ 1HXSODWRQLNHU VRZLH LQ GHQHQ YRQ *HOHKUWHQ ZLH &RUQHOLXV $JULSSD 3LHWUR G $EDQR (OLSKDV /HYL XQG DQGHUHQ ]X ILQGHQ 'LH JU|EHUHQ (OHPHQWH VLQG LQ GHQ ZHLWKLQ EHUKPWHQ &ODYLNHOQ *ULPRLUHV XQG *RHWLHQ HQWKDOWHQ 7URW] GLHVHU 9HU|IIHQWOLFKXQJHQ ZXUGHQ GHU JU|WH 7HLO GHU HLJHQWOLFKHQ /HKUPHWKRGH XQG GLH XQJHKHXUHQ ,PSOLNDWLRQHQ MHQHV SUDNWLVFKHQ :LVVHQV VWUHQJ JHKHLPJHKDOWHQ 'HU *UXQG IU GLHVH *H KHLPKDOWXQJ PDJ GDV *HIKO JHZHVHQ VHLQ GD LQ MHGHU =HLW LQ MHGHP /DQG XQG LQ DOOHQ 9|ONHUQ MHZHLOV QXU VHKU ZHQLJH 0HQ VFKHQ GLH WLHIHUHQ RGHU VXEOLPHUHQ $VSHNWH GHU 7KHXUJLH GHU K|KHUHQ 0DJLH ]X ZUGLJHQ ZLVVHQ XQG YHUVWHKHQ N|QQHQ 'LHVHV9HUVWlQGQLV]XHQWZLFNHOQHUIRUGHUWHLQHSRVLWLYH(LQVWHOOXQJ ]XU 0DJLH JURH (LQVLFKW VRZLH GLH )lKLJNHLW KDUW ]X DUEHLWHQ 9RUDXVVHW]XQJHQGLH HLJHQWOLFKLVWHVXQQ|WLJGLHV]X
HUZlKQHQ QXU EHL VHKU ZHQLJHQ 0HQVFKHQ JHJHEHQ VLQG )ROJOLFK EHVWHKW NHLQ *UXQG GLHVH 3HUOHQ OHXFKWHQGHU :HLVKHLW GLH QXU ]X OHLFKW PLYHUVWDQGHQ ZHUGHQ N|QQHQ HLQHP EUHLWHQ 3XEOLNXP ]XJlQJOLFK]XPDFKHQ =ZHLIHOORV EHVWlWLJW :DGGHOOV %XFK /DPDLVPGLHVH $QVFKDX XQJ 7DWVlFKOLFK HQWKlOW GLHVHV %XFK HLQHQ HUVWDXQOLFKHQ )XQGXV HVRWHULVFKHQ PDJLVFKHQ :LVVHQV ZHOFKHU DOOHUGLQJV RKQH MHGHV WLHIHUH 9HUVWlQGQLV GDUJHVWHOOW ZLUG 'LH 'DUVWHOOXQJ GHV /DPDLV PXV LVW YHUIlOVFKW XQG GDPLW SUDNWLVFK ZHUWORV 2EJOHLFK LFK PLW :DGGHOO GDULQ EHUHLQVWLPPH GD HLQLJH GHU ODPDLVWLVFKHQ 3UDNWLNHQZHQLJPLWGHPKLVWRULVFKHQ%XGGKLVPXV]XWXQKDEHQLVW GHU6SRWWGHV$XWRUVEHUHLQHQHVRWHULVFKHQPDJLVFKRULHQWLHUWHQ %XGGKLVPXV VFKOLFKW XQG HLQIDFK OlFKHUOLFK GHQQ VHLQ %XFK LVW JHUDGH]XHLQ%HZHLVIUGHVVHQ([LVWHQ]RKQHGDGHU$XWRUGLHV DXFKQXUEHPHUNWKlWWH 'HU =ZHFN GHV %XFKHV ZDU RIIHQVLFKWOLFK LQ HUVWHU /LQLH HLQH REMHNWLYH'DUVWHOOXQJGHVLQ7LEHWKHLPLVFKHQ%XGGKLVPXVVRZLHHU YRQ GHQ GRUWLJHQ 0|QFKHQ XQG (LQVLHGOHUQ SUDNWL]LHUW ZLUG /HLGHU VLQG GLH 9RUXUWHLOH XQG 0LYHUVWlQGQLVVH GHV $XWRUV ]LHPOLFK RIIHQVLFKWOLFK (U KDW ]ZDU ]ZHLIHOORV YRQ GHU ©HVRWHUL VFKHQ 7DIHOª GHU /DPDV HLQ SDDU .UXPHQ DXIJHVFKQDSSW XQG VLH VR DXIJH]HLFKQHW ZLH HU VLH YRUIDQG GRFK KDWWH HU QLFKW GLH QRW ZHQGLJH 9RUEHUHLWXQJ JHQRVVHQ E]Z YHUIJWH HU LP *HJHQVDW] ]X HLQLJHQ GHU K|KHU LQLWLLHUWHQ /DPDV PLW GHQHQ HU VSUHFKHQ NRQQWH QLFKW EHU GDV QRWZHQGLJH :LVVHQ RGHU EHU GLH QRWZHQGLJH (LQ VLFKW LQ GLH 7KHPDWLN ,QIROJHGHVVHQ LVW HV LKP RIIHQEDU QLFKW JHOXQJHQ GLH HUKDOWHQHQ ,QIRUPDWLRQHQ LQ HLQHQ VLQQYROOHQ =X VDPPHQKDQJ ]X EULQJHQ 'HVKDOE NOLQJW VHLQH 'DUVWHOOXQJ MHQHU ODPDLVWLVFKHQ3UDNWLNHQGXPPXQGDEVXUG3V\FKRORJLVFKJHOLQJWHV LKP QLFKW GDV 7XQ GHU /DPDV OlFKHUOLFK ]X PDFKHQ VWDWW GHVVHQ PDFKWHUVLFKVHOEVW]XP1DUUHQ *HZLVVH $VSHNWH GHU 7KHXUJLH RGHU GHU ZHVWOLFKHQ 0DJLH VLQG PLWWOHUZHLOH UHODWLY NODU HUIRUVFKW (LQLJH IUKH .ULWLNHU ZDUHQ GHU 0HLQXQJ GD PHLQ IUKHU HUVFKLHQHQHV :HUN 7KH 7UHH RI /LIH ©'HU %DXP GHV /HEHQVª GLH ELV ]XP =HLWSXQNW GHU 9HU|IIHQW OLFKXQJ JUXQGOHJHQGVWH 'DUVWHOOXQJ GHU ZLFKWLJVWHQ WUDGLWLRQHOOHQ 3ULQ]LSLHQ GLHVHU 7KHPDWLNVHL 'LRQ)RUWXQHV %XFK'LHP\VWLVFKH .DEEDOD HLQ ZDKUHV 0HLVWHUZHUN HQWKlOW HEHQIDOOV HLQH XQYHUJOHLFKOLFKJXWH'DUVWHOOXQJMHQHUP\VWLVFKHQ3KLORVRSKLH
ZHOFKH GHU 3UD[LVGHU 0DJLH ]XJUXQGH OLHJW 'HVKDOEP|FKWHLFK YRUVFKODJHQ GD ZLU YHUVXFKHQ GXUFK GLH $QZHQGXQJ GHU LQ MHQHQ EHLGHQ %FKHUQ GDUJHVWHOOWHQ 7KHRUHPH DXI GDV LQ :DGGHOOV %XFK EHU GHQ /DPDLVPXV HQWKDOWHQH 0DWHULDO ]X HLQHP 9HUVWlQGQLV HLQLJHU DQVRQVWHQ VFKZHUYHUVWlQGOLFKHU %HVWDQGWHLOH GHU WLEHWL VFKHQ0DJLH]XJHODQJHQ 'LHZLFKWLJVWHQ7KHPHQGHU0DJLH
(VLVWYLHOOHLFKWDQJHEUDFKW]XQlFKVWHLQPDONODU]XVWHOOHQGDHLQ JURHU 7HLO GHU PDJLVFKHQ 3UR]HGXU VLFK DXI GHQ SV\FKLVFKHQ %HUHLFKEH]LHKWDXIJHZLVVH(EHQHQGHVNROOHNWLYHQ8QEHZXWHQ ZDV DOOHUGLQJV NHLQHVIDOOV HLQHU YROOVWlQGLJHQ 9HUXUWHLOXQJ JOHLFKNRPPW VR ZLH VLH IU GLH (LQVWHOOXQJ JHZLVVHU P\VWLVFKHU 6FKXOHQ JHJHQEHU GHU 0DJLH NHQQ]HLFKQHQG LVW $QGHUH =ZHLJH GHU 0DJLH EHIDVVHQ VLFK PLW VR DXHUJHZ|KQOLFKHQ =LHOVHW]XQJHQ ZLH GHP 5HJHQPDFKHQ GHU 6LFKHUXQJ HLQHU JXWHQ (UQWH GHU 9HU WUHLEXQJYRQ'lPRQHQXQGPLWlKQOLFKHQ.QVWHQGLHXQVVRZRKO DXV (U]lKOXQJHQ GHV 2VWHQV ZLH DXFK GHV :HVWHQV EHNDQQW VHLQ GUIWHQ hEULJHQV KDW HV GLH 5DWLRQDOLVWHQ XQG GLH PHFKDQLVWLVFK RULHQWLHUWHQ :LVVHQVFKDIWOHU]XDOOHQ=HLWHQJURH0KHJHNRVWHW GHUDUWLJH 3KlQRPHQH ©ZHJ]XHUNOlUHQª 6FKOLHOLFK JLEW HV QRFK MHQHQ XQJOFNOLFKHUZHLVH JURHQ PDJLVFKHQ %HUHLFK GHU +H[HUHL 0LWOHW]WHUHUKDEHLFKPLFK]XNHLQHU=HLWEHVFKlIWLJWXQGLFKZHUGH HVDXFKMHW]WXQGLQ=XNXQIWQLFKWWXQ ,FK P|FKWH QXQ HLQHQ HUVWHQ 'HILQLWLRQVYHUVXFK ZDJHQ XQG IHVWVWHOOHQ GD 0DJLH VRZRKO GLH |VWOLFKH DOV DXFK GLH GHV :H VWHQV LQ LKUHP :HVHQ HLQ J|WWOLFKHU 3UR]H LVW 7KHXUJLH HLQH 0HWKRGH VSLULWXHOOHU (QWZLFNOXQJ $XV SV\FKRORJLVFKHU 6LFKW N|QQWH0DJLHDOVHLQH0HWKRGHYHUVWDQGHQZHUGHQREMHNWLYHQXQG VXEMHNWLYHQ0DQLIHVWDWLRQHQ(QHUJLH]XHQW]LHKHQPLWGHP=LHOLQ GHU (UQHXHUXQJ GHV %HZXWVHLQV GXUFK HLQH ZLHGHUDXIWDXFKHQGH /LELGR GDV -XZHO HLQHV WUDQVIRUPLHUWHQ /HEHQV PLW QHXHQ NUHDWLYHQ 0|JOLFKNHLWHQ XQG 6SRQWDQHLWlW ]X ILQGHQ 'LH 0DJLH EHGLHQW VLFK YHUVFKLHGHQDUWLJHU 0HWKRGHQ YRQ GHQHQ HLQLJH VHKU HLQIDFK DQGHUH KLQJHJHQ NRPSOH[ XQG lXHUVW VFKZLHULJ ]X SUDNWL]LHUHQVLQG'LHVH0HWKRGHQGLHQHQ]XQlFKVW GHU5HLQLJXQJ GHU3HUV|QOLFKNHLWXQGQDFKGHPGLHVJHVFKHKHQLVWGHU
,QYRNDWLRQ GHV K|KHUHQ 6HOEVW LQ GHQ JHUHLQLJWHQ XQG YRQ SDWKRJH QHQ6SDQQXQJHQEHIUHLWHQ2UJDQLVPXV ,Q GLHVHP =XVDPPHQKDQJ JHVHKHQ JHZLQQHQ YLHOH VFKHLQEDU XQ]XVDPPHQKlQJHQGH %HVWDQGWHLOH GHU 0DJLH HLQLJH LKUHU ,QYR NDWLRQHQ XQG 9LVXDOLVDWLRQVEXQJHQ HLQH QHXH XQG ]XVlW]OLFKH %HGHXWXQJ 6LH VLQG ZLFKWLJH SV\FKRORJLVFKH 6FKULWWH PLWWHOV GHUHQ GDV %HZXWVHLQ ZLHGHUKHUJHVWHOOW YHUEHVVHUW XQG DXI HLQ K|KHUHV 1LYHDX EHI|UGHUW ZLUG DXI GD HV VLFK HLQHV 7DJHV DOV ZUGLJHV 9HKLNHO GHV *|WWOLFKHQ /LFKWV HUZHLVHQ P|JH (LQ $XV VSUXFKGHQ:LOOLDP4XDQ-XGJHYRUYLHOHQ-DKUHQLQVHLQHU6FKULIW$Q (SLWRPH RI7KHRVRSK\^(LQH NXU]H 'DUVWHOOXQJ GHU 7KHRVRSKLH YHU|IIHQWOLFKWHEULQJWGDV*HPHLQWHVRJHQDX]XP$XVGUXFNGDHV PLU VLQQYROO HUVFKHLQW GLHVHV =LWDW KLHU DQ]XIKUHQ ©'DV HL JHQWOLFKH =LHO GDV PDQ LP $XJH EHKDOWHQ VROOWH LVW GLH QLHGHUH 1DWXU ]X |IIQHQ RGHU VLH VR SRU|V ]X PDFKHQ GD GLH VSLULWXHOOH 1DWXU GXUFK VLH KLQGXUFKVFKHLQHQ XQG ]XP /HQNHU XQG +HUUVFKHU ZHUGHQ NDQQ 6LH ZLUG ©NXOWLYLHUW LQ GHP 6LQQH ZLH HLQ 9HKLNHO GDUDXI YRUEHUHLWHW ZLUG GDPLW GLH J|WWOLFKH 1DWXU KLQDEVWHLJHQ XQGVLFKGDULQQLHGHUODVVHQNDQQª 'LHV HQWVSULFKW GHU 6LFKWZHLVH XQVHUHV PDJLVFKHQ 6\VWHPV 'LH PDJLVFKHQ 7HFKQLNHQ GLH LQ PHLQHP :HUN 'DV PDJLVFKH 6\VWHP GHV *ROGHQ 'DZQX EHVFKULHEHQ ZHUGHQ EHLVSLHOVZHLVH GDV 3HQ WDJUDPPULWXDO XQG DQGHUH 5LWXDOH GLH DVWUDOH $QHLJQXQJ YRQ *RWWHVIRUPHQ GLH $QUXIXQJ HOHPHQWDUHU XQG SODQHWDUHU *HLVWHU ZHQQ DXFK QLFKW XQEHGLQJW PLW GHP =LHO HLQHU SK\VLVFKHQ 0D QLIHVWDWLRQ GHUVHOEHQ +HOOVLFKW XQG *HLVW9LVLRQ VRZLH GLH $Q UXIXQJ GHV +HLOLJHQ 6FKXW]HQJHOV ZHUGHQ DOOH PLW MHQHP HLQHQ VWHWV JHJHQZlUWLJHQ =LHO DXVJHIKUW 7KHXUJLH XQG GLH 5HSUlVHQ WDQWHQ GHU |VWOLFKHQ 0\VWLN VWLPPHQ VRPLW KLQVLFKWOLFK LKUHU WKHRUHWLVFKHQ*UXQGODJHQY|OOLJEHUHLQ 2EMHNWLYH0LYHUVWlQGQLVVH
8P]XYHUDQVFKDXOLFKHQZDVLFKGDPLWPHLQHZHQQLFKVDJHGD HLQHUHLQREMHNWLYH'DUVWHOOXQJPDJLVFKHU3UDNWLNHQ]XHLQHP ,VUDHO5HJDUGLH'DVPDJLVFKH6\VWHPGHV*ROGHQ'DZQ %G,,,, %DXHU9HUODJ)UHLEXUJL%U
Y|OOLJHQ0LYHUVWlQGQLVIKUHQNDQQP|FKWHLFKHLQLJHbXHUXQJHQ :DGGHOOV QlKHU XQWHUVXFKHQ =XHUVW P|FKWH LFK HLQHQ $EVFKQLWW YRQ6HLWH$XIODJH VHLQHV:HUNV]LWLHUHQ©'HUUHLQVWH*H OXJSD/DPDVFKW]WVLFKEHLP$XIZDFKHQDP0RUJHQXQGEHYRUHU VLFK DXV VHLQHU %HKDXVXQJ ZDJW JHJHQ $QJULIIH YRQ 'lPRQHQ LQGHP HU ]XQlFKVW GLH VSLULWXHOOH 0DVNH VHLQHV IXUFKWEDUHQ 6FKXW]JRWWHV DQOHJW :HQQ GHU /DPD VHLQH %HKDXVXQJ YHUOlW YHUJHJHQZlUWLJWHUVSLULWXHOOGLH(UVFKHLQXQJGHV'lPRQHQN|QLJV ZRUDXIKLQGLHQLHGHUHQE|VDUWLJHQ'lPRQHQGLHVLFKGXUFKGLHVHQ $XI]XJ GD]X YHUOHLWHQ ODVVHQ ]X JODXEHQ GD GHU /DPD WDWVlFKOLFK LKU HLJHQHU UDFKVFKWLJHU .|QLJVHLYRU LKP IOLHKHQXQGGHQ/DPD LQ5XKHODVVHQª 1DWUOLFKLVWGLHVHLQHHWZDVNLQGLVFKH,QWHUSUHWDWLRQ 2EJOHLFK GLH 7DWVDFKH VHOEVW QlPOLFK GDV $QQHKPHQ GHU VSL ULWXHOOHQ )RUPHQ YRQ 6FKXW]JRWWKHLWHQ GXUFKDXV ]XWUHIIHQG LVW LVWGLH(UNOlUXQJGLHGHU$XWRUOLHIHUWLQIDQWLOXQGGXPP6RZHLWHV GLH ZHVWOLFKH 7KHXUJLH EHWULIIW KDEHQ MDKUKXQGHUWHODQJH %H PKXQJHQ JH]HLJW GD HLQHV GHU PlFKWLJVWHQ +LOIVPLWWHO GHU VSLULWXHOOHQ (UIDKUXQJ LP +LQEOLFN DXI GLH $VVLPLODWLRQ GHV QLH GHUHQ 6HOEVW LQ GLH DOOHV XPIDVVHQGH 3V\FKH GDV DVWUDOH $QQHKPHQ GHU PDJLVFKHQ )RUP HLQHU J|WWOLFKHQ 0DFKW RGHU HLQHV *RWWHV LVW 'XUFKGLH(UKHEXQJGHV*HLVWHVXQGGHU6HHOHLQGLH*HJHQZDUWGHU *RWWKHLW LQGHP HLQH ,QYRNDWLRQ DXVJHIKUW ZLUG VROO HLQ /LFKW YRQ REHQ LQ GDV +HU] GHV $QUXIHQGHQ GULQJHQ EHJOHLWHW YRQ HLQHP $XIVWLHJ VHLQHV *HLVWHV ]XP XQDXVVSUHFKOLFKHQ *ODQ] GHV *|WW OLFKHQ*HLVWHV *RWWHVIRUPHQ
:DVGHQ*UXQGIUGLHVHQ3UR]HXQGVHLQH(UNOlUXQJDQEHWULIIWVR P|FKWH LFK KLHU NXU] IHVWVWHOOHQ GD QDFK PDJLVFKHU $QVFKDXXQJ GHU JHVDPWH .RVPRV YRQ HLQHP VRZRKO LPPDQHQWHQ DOV DXFK WUDQV]HQGHQWHQ DOOJHJHQZlUWLJHQ /HEHQ GXUFKGUXQJHQ LVW %HL GHU 0DQLIHVWDWLRQ GHV 8QLYHUVXPV DXV GHU GUHLIDFK XQEHNDQQWHQ 'XQNHOKHLW VFKZlUPHQ GLH /(%(1 DXV JURH *|WWHU XQG VSLUL WXHOOH.UlIWH:HKHQKHUUVFKHUGLH]XGHQLQWHOOLJHQWHQ$UFKLWHNWHQ XQG (UEDXHUQ GHU YLHOIlOWLJHQ 7HLOH GHV 8QLYHUVXPVZHUGHQ $XV LKUHUVSLULWXHOOHQ(VVHQ]ZHUGHQDQGHUHQLHGULJHUH
+LHUDUFKLHQ JH]HXJW XQG DXV GLHVHQ ZLHGHUXP HQWVSULQJHQ RGHU HQWZLFNHOQVLFKZHLWHUH*UXSSHQ6LHVLQGHVGLHLQGHQYHUERUJHQHQ 7LHIHQ GHU 3V\FKH MHQH 8U,GHHQ UHSUlVHQWLHUHQ ZHOFKH -XQJ DOV DUFKHW\SLVFKH %LOGHUEH]HLFKQHWH GLHEHUDOOXQG]XDOOHQ=HLWHQ LP NROOHNWLYHQ8QEHZXWHQGHUJHVDPWHQ0HQVFKKHLW]XILQGHQVLQG 6R NRPPW HV GD VLFK GLH 6HHOH GHV 0HQVFKHQ GXUFK 9HUHLQL JXQJ GHV PHQVFKOLFKHQ %HZXWVHLQV PLW GHP 6HLQ GHU *|WWHU LQ ]XQHKPHQGHP 0DH VHLQHU HLJHQHQ :XU]HO XQG 4XHOOH QlKHUQ NDQQ ,Q GHU EXGGKLVWLVFKHQ /HKUH ZLUG GLHV DOV ©ZHVHQVPlLJ UHLQH (VVHQ] GHV *HLVWHVª EH]HLFKQHW DOV GHU 'KDUPDND\D GHU QLFKWEHGLQJWH J|WWOLFKH :DKUKHLWVN|USHU 'LH $EVLFKW E|VDUWLJH 'lPRQHQ DE]XVFKUHFNHQ HQWVSULFKW QLFKW GHU $EVLFKW GLHVHU 0HWKRGH 2E 0DMRU :DGGHOO VHOEVW GLHVH +\SRWKHVH DXIJHVWHOOW KDW LVW VFKZHU IHVW]XVWHOOHQ VLH LVW MHGHQIDOOV EHL DOOHQ SULPLWLYHQ 9|ONHUQ ]X ILQGHQ :DKUVFKHLQOLFK KDW HLQ /DPD VLH ]XP 6SD HUZlKQW XP ZHLWHUH )UDJHQ :DGGHOOV ]X XQWHUELQGHQ $QGHUHU VHLWV LVW GDV $QQHKPHQ HLQHU *RWWHVIRUP LQ $XJHQEOLFNHQ SV\ FKLVFKHU*HIDKU WDWVlFKOLFK HLQH QLFKW ]X XQWHUVFKlW]HQGH +LOIH DOOHUGLQJV QLFKW ZHLO GHU EHGURKOLFKH (OHPHQWDUJHLVW RGHU 'lPRQ GDGXUFK JHQDUUW RGHU ZHLO HU GXUFK GLH )RUP YHUMDJW ZHUGHQ N|QQWH VRQGHUQ ZHLO GHUMHQLJH GHU GLH *RWWHVIRUP HYR]LHUW KDW LQGHP HU VLFK GXUFK $QQHKPHQ GHU V\PEROLVFKHQ )RUP HLQHU 3KDVH GHV J|WWOLFKHQ *HLVWHV |IIQHWH GLH $XWRULWlW XQG +HUU VFKHUJHZDOW MHQHV *RWWHV DXI VLFK QLPPW E]Z LQGHP HU GXUFK GLHVH JHVWlUNWZLUG 'LHVH NRVPLVFKHQ .UlIWH ZXUGHQ VRZHLW HV GLH ZHVWOLFKH )RUP GHU 0DJLH EHWULIIW LQ bJ\SWHQ PLW GHU JU|WHQ $XIPHUNVDPNHLW EHGDFKW XQG LKUH (LJHQVFKDIWHQ XQG $WWULEXWH ZXUGHQ GRUW EH REDFKWHW XQG DXIJH]HLFKQHW 6R HQWVWDQGHQ GLH ©VWDQGDUGLVLHUWHQª ,GHRJUDPPH GHU lJ\SWLVFKHQ *|WWHU GLH YRQ WLHIJUQGLJHU %HGHX WXQJ MHGRFK WURW] LKUHU EHZHJHQGHQ %HUHGWKHLW HLQIDFK VLQG 'LHVH lJ\SWLVFKHQ *RWWHVIRUPHQ ZHUGHQ LQ GHU ZHVWOLFKHQ 0DJLH EH QXW]W QLFKW GLHMHQLJHQ 7LEHWV RGHU ,QGLHQV 6LH ZHUGHQ PLW +LOIH GHU .UlIWH GHV :LOOHQV XQG GHU ,PDJLQDWLRQ VRZLH GHUMHQLJHQ GHV .ODQJV XQG GHU )DUEH HYR]LHUW 'HU LP IROJHQGHQ ]LWLHUWH WLHI JUQGLJH$EVFKQLWWVWDPPWDXVGHQ0DKDWPD%ULHIHQLQGHQHQ.+ DQ $ 3 6LQQHWW VFKULHE ©:LH N|QQWH PDQ VLFK PLW MHQHQ KDOE LQWHOOLJHQWHQ.UlIWHQYHUVWlQGLJHQ VLHJDUOHQNHQGLHPLWXQV
QLFKW PLWWHOV GHV JHVSURFKHQHQ :RUWV NRPPXQL]LHUHQ VRQGHUQ LQ )RUP YRQ :HFKVHOEH]LHKXQJHQ ]ZLVFKHQ .OlQJHQ XQG )DUEHQ 'HQQ .ODQJ /LFKW XQG )DUEH VLQG GLH +DXSWIDNWRUHQ GLH GLHVH 6WXIHQGHU,QWHOOLJHQ]DXVPDFKHQª 2EJOHLFK HV NDXP DQJH]HLJW LVW WLHIHU LQ GLHVH 0DWHULH HLQ]X GULQJHQNDQQPDQGRFKVDJHQGDGLHbXHUXQJHQYRQ.+VLFK HEHQVR DXI DQGHUH .UlIWH XQG 0lFKWH ZLHDXIGLH(OHPHQWDUNUlIWH DQZHQGHQODVVHQ'LHDVWUDOH*HVWDOWDXV)DUEHXQG/LFKWGLHVLHLQ GHU ,PDJLQDWLRQ DQQHKPHQ HU]HXJW HLQH )RUP RGHU HLQHQ )RNXV EHVRQGHUHU $UW LQ ZHOFKH RGHU ZHOFKHQ VLFK GXUFK JHZLVVH $UWHQ YRQ 6FKZLQJXQJHQ XQG GXUFK$QUXIXQJ GLHJHZQVFKWH .UDIWRGHU VSLULWXHOOH 0DFKW LQNDUQLHUW 'DV %HNOHLGHQ GHU HLJHQHQ DVWUDOHQ )RUPPLWGHU,GHDOJHVWDOWGHV*RWWHVZHOFKHGXUFKGDV+HUDEVWHLJHQ GHU DQJHUXIHQHQ .UDIW EHOHEW ZRUGHQ LVW VROO HV GHP 0HQVFKHQ HUP|JOLFKHQ LQ GDV +HU]GHU *RWWKHLWHUKREHQ ]X ZHUGHQXQGDXI GLHVH :HLVH DOOPlKOLFK PLW IRUWVFKUHLWHQGHU $QHLJQXQJ VHLQHU HLJHQHQ PHQVFKOLFKHQ 1DWXU ]X MHQHU XQDXVVSUHFKOLFK JHKHLP QLVYROOHQ :XU]HO ]XUFN]XNHKUHQ YRQ ZHOFKHU HU XUVSUQJOLFK VWDPPW 'LH5ROOHGHV.ODQJVEHLPDJLVFKHQ$QUXIXQJHQ
(LQ ZHLWHUHV %HLVSLHO IU :DGGHOOV 0DQJHO DQ +XPRU XQG (LQVLFKW ILQGHQ ZLU DXI 6HLWH VHLQHV %XFKHV ,Q GHU %HVFKUHLEXQJ GHU 1RYL]HQVFKXOXQJKHLWHVGDGHU/DPDHLQH©WLHIHUDXKH6WLPPH EHQXW]WGLHHUVLFKGXUFKhEXQJDQJHHLJQHWKDWXPGHQ(LQGUXFN ]X YHUPLWWHOQ GDV ZDV HU VDJH HQWVSULQJH EHVRQGHUHU 5HLIH XQG :HLVKHLWª ,FK ZHL QLFKW RE LUJHQG MHPDQG XQWHU PHLQHQ /HVHUQ MHPDOV =HXJH HLQHU PDJLVFKHQ =HUHPRQLH JHZHVHQ LVW RGHU HLQHP JHVFKXOWHQ3UDNWLNHUEHLP5H]LWLHUHQHLQHU,QYRNDWLRQ]XJHK|UWKDW :DKUVFKHLQOLFK KDEHQ QXU VHKU ZHQLJH /HVHU VR HWZDV VFKRQ HLQPDO PLWHUOHEW 'HVKDOE P|FKWH LFK KLHU DQPHUNHQ GD EHL GHUDUWLJHQ $QOlVVHQ VWHWV HLQH 6WLPPODJH EHYRU]XJW ZLUG GLH HLQ 0D[LPXP DQ 6FKZLQJXQJHU]HXJW%HLGHQ PHLVWHQ 6FKOHUQUXIW HLQH WLHIH 6WLPPODJH RGHU HLQ WLHIHV 6XPPHQ GLH VWlUNVWHQ 6FKZLQJXQJHQ KHUYRU )ROJOLFK LVW GLHV GHU LGHDOH .ODQJ XP GLH HUIRUGHUOLFKHQ VXEWLOHQ PDJLVFKHQ .UlIWH LP ,QQHUQ ]X ZHFNHQ $XFKPXGDUDXIKLQJHZLHVHQZHUGHQGDGLHEHVWHQ
,QYRNDWLRQHQ LPPHU VRQRU VLQG XQG LQWHQVLY VFKZLQJHQ 'LH 9RU VWHOOXQJ :DGGHOOV GD GLH 6WLPPH 5HLIH XQG :HLVKHLW VXJJHULHUHQ VROOHLVWQLFKWVDOV'XPPKHLW'LHVLVWHLQZHLWHUHV%HLVSLHOIUGLH ZHVWOLFKH *HULQJVFKlW]XQJ IUHPGHU 6\VWHPH EHL GHQHQ LP *H JHQWHLO HLQH HLQIKOVDPH %HPKXQJ XP 9HUVWlQGQLV DQJH]HLJW ZlUH 'LH YRQ :DGGHOO DQJHIKUWHQ %HLVSLHOH IU WLEHWLVFKH 5LWXDOH HQWKDOWHQ HLQH 5HLKH YRQ ©DPVDQWHQª 2PV +XPV +DV XQG 3KDWV GRFK HQWKDOWHQ GLHZHVWOLFKHQ $QUXIXQJHQ lKQOLFK ©DP VDQWHªEDUEDULVFKH1DPHQGHU$QUXIXQJ
'HU /HVHU HUIlKUW LQ :DGGHOOV %XFK ]X VHLQHP (UVWDXQHQ DXFK GD GLH 7LEHWHU HLQ bTXLYDOHQW GHVVHQ NHQQHQ ZDV EHL XQV LP :HVWHQ DOV NDEEDOLVWLVFKHV .UHX] EH]HLFKQHW ZLUG $XI 6HLWH GHV HU ZlKQWHQ%XFKHVLVWGLHIROJHQGH%HVFKUHLEXQJ]XILQGHQ ©%HYRU VLH PLW HLQHU $QGDFKWVEXQJEHJLQQHQ YROOIKUHQ GLH /DPDV HLQ 5LWXDO GDV VWDUN DQ GDV 6LFK%HNUHX]LJHQ! GHU &KULVWHQ HULQQHUW 'HU /DPD EHUKUW VDQIW HQWZHGHU PLW HLQHP )LQJHU RGHU PLW GHU *ORFNH VHLQH6WLUQXQGLQWRQLHUWGLHP\VWLVFKH6LOEH 2P 'DQQEHUKUWHUGHQ REHUVWHQ 3XQNW GHU %UXVW XQG LQWRQLHUW $K GDQQ GLH 0DJHQJHJHQG ZREHLHU+XPLQWRQLHUW0DQFKH/DPDVIJHQQRFK 6YDKDKLQ]X
ZlKUHQG DQGHUH GDV .UHX] YROOHQGHQ LQGHP VLH GLH OLQNH 6FKXOWHU EHUKUHQ 'DP XQG DQVFKOLHHQG
%HYRULFKPLFK]XPRELJHQ=LWDWlXHUHVHKHLFKPLFKJH]ZXQJHQ DXI JHZLVVH JUXQGOHJHQGH 7KHRULHQ ]X YHUZHLVHQ GLH LQ HLQLJHQ %FKHUQ EHU GLH .DEEDOD ]X ILQGHQ VLQG :HQQ GHU /HVHU PLW 'U :P::HVWFRWWVJOlQ]HQGHU,QWLRGXFWLRQWRWKH6WXG\RIWKH =XRUGQXQJGHU]HKQ6HSKLURWK]XP SK\VLVFKHQ.|USHUGHV0HQVFKHQ
.DEEDOODK (LQIKUXQJ LQ GDV 6WXGLXP GHU .DEEDOD RGHU PLW 'LRQ )RUWXQHV%XFK'LHP\VWLVFKH.DEEDOD YHUWUDXWLVWVRZLUGHUGRUWHLQ 'LDJUDPP JHIXQGHQ KDEHQ ZHOFKHV GLH ]HKQ 6HSKLLRWK HLQHU PHQVFKOLFKHQ *HVWDOW ]XRUGQHW hEHU GHP .RSI VFKZHEW ZLH HLQH .URQH .HWKHU XQG UHSUlVHQWLHUW GHQ J|WWOLFKHQ *HLVW DQ GHQ )HQ EHILQGHW VLFK 0DONXWK ZlKUHQG GLH UHFKWH XQG OLQNH 6FKXOWHU *HEXLDK XQG *HGXODK ]XJHRUGQHW VLQG 0DUV XQG -XSLWHU 0DFKW XQG +HUUOLFKNHLW,Q GHU NDEEDOLVWLVFKHQ 3QHXPDWRORJLH /HKUH YRQ GHUK|KHUHQ*HLVWHUZHOW LVW.HWKHLHLQH(QWVSUHFKXQJGHU0RQDGH GHV G\QDPLVFKHQ XQG HVVHQWLHOOHQ 6HOEVW6HLQV HLQHV 0HQVFKHQ GHU*HLVWGHUGXUFK ,QNDUQDWLRQKLHUDXIGHU(UGH(UIDKUXQJVXFKW 'D GLHVH 6HSKLUDK RGHU.UDIWEHUGHP.RSISOD]LHUWLVWVWDWW EHLVSLHOVZHLVH LP*HKLUQRGHULP=HQWUXPGHV+HU]HQVLVWK|FKVW EHGHXWVDP 'LHV LVW GDV /LFKW GHV J|WWOLFKHQ *HLVWHV GDV RKQH 8QWHUOD LQ GLH XQWHU LKP OLHJHQGH 'XQNHOKHLW OHXFKWHW ©'HU *HLVW GHV 0HQVFKHQ LVW GLH .HU]H GHV +HUUQª 8QG ©$OV VHLQH .HU]HDXIPHLQ+DXSWOHXFKWHWHXQGLFKLQLKUHP/LFKWGXUFKGLH 'XQNHOKHLW VFKULWWª 'LHVHU *HGDQNH KDW DXFK LQ DQGHUHQ VSLUL WXHOOHQ 6\VWHPHQ 3DUDOOHOHQ =XP %HLVSLHO VFKUHLEW -XGJH LQ 7KH (SLWRPH RI 7KHRVRSK\ ©(V KHLW GD GHU ZDKUH0HQVFKZHOFKHU GDV +|KHUH 6HOEVW LVW GHU )XQNH GHV *|WWOLFKHQ GDV VLFKWEDUH 6HLQ EHUVFKDWWHW ZHOFKHV GLH 0|JOLFKNHLW KDW PLW MHQHP )XQNHQ YHUHLQLJW]XZHUGHQ6RKHLWHVGDGHUK|KHUH*HLVWQLFKWLP 0HQVFKHQVHLVRQGHUQEHULKPª $OOH P\VWLVFKHQ XQG PDJLVFKHQ 3UR]HGXUHQ KDEHQ ]XP =LHO GDVQLHGHUH6HOEVWVR]XUHLQLJHQGDGDVK|KHUH6HOEVW GDVXQV JHZ|KQOLFK QXU EHUVFKDWWHW XQG GDV QXU VHOWHQ YROOVWlQGLJ LQNDU QLHUWLVW LQHLQJHUHLQLJWHVXQGJHZHLKWHV9HKLNHOKHUDEVWHLJHQ NDQQ 'LH WKHXUJLVFKH hEHUOLHIHUXQJ YHUVLFKHUW GD GLHV XQWHU DQGHUHP GXUFK ULFKWLJH $XVIKUXQJ GHV NDEEDOLVWLVFKHQ .UHX]HV HUUHLFKWZHUGHQN|QQH$OV$QGDFKWVEXQJRGHU0HGLWDWLRQZLUGHV LQ =XVDPPHQKDQJ PLW GHU $XVIKUXQJ JHZLVVHU JHUDGOLQLJHU )LJXUHQ EHQXW]W LQ 9HUELQGXQJ PLW GHP ,QWRQLHUHQYRQ1DPHQ GHU 0DFKW XQG JHIROJW YRQ $QUXIXQJHQ GHU YLHU JURHQ (U]HQJHO 'LHLQGHUZHVWOLFKHQ:HOWSUDNWL]LHUWH)RUPODXWHW 'LRQ )RUWXQH 'LH P\VWLVFKH .DEEDOD %DXHU9HUODJ)UHLEXUJ L%U $XIODJH
%HUKUHGLH6WLUQXQGVSULFK$WHK'XELVW %HUKUHGLH%UXVWXQGVSULFK0DONXWKGDV5HLFK %HUKUH GLHUHFKWH6FKXOWHUXQGVSULFKYH*HEXUDKXQGGLH.UDIW %HUKUH GLH OLQNH 6FKXOWHU XQG VSULFK YH*HGXODK XQG GLH +HUU OLFKNHLW /HJH GLH +lQGH EHU GHU %UXVW ]XVDPPHQ XQG VSULFK OH2ODKP $PHQLQ(ZLJNHLW$PHQ 1XQ IROJHQ JHHLJQHWH 3HQWDJUDPPH GHUHQ 6SLW]HQ LQ GLH YLHU +DXSWKLPPHOVULFKWXQJHQ ZHLVHQ XQG GDV 9LEULHUHQ YRQ 1DPHQ GHU 0DFKW 6WUHFNHGLH$UPHLQ)RUPHLQHV.UHX]HVDXVXQGVSULFK 9RUPLU5DSKDHOKLQWHUPLU*DEULHO =XPHLQHU5HFKWHQ0LFKDHO]XPHLQHU/LQNHQ$XULHO 9RUPLUIODPPWGDV3HQWDJUDPP +LQWHUPLUVFKHLQWGHUVHFKVVWUDKOLJH6WHUQ :LHGHUKROHQXQGDVNDEEDOLVWLVFKH.UHX]
'LH :LUNXQJVZHLVH GLHVHV NOHLQHQ 5LWXDOV OlW VLFK LQ PHKUHUH 3XQNWH XQWHUWHLOHQ =XQlFKVW UXIW HV GLH 0DFKW GHV K|KHUHQ 6HOEVW DOV VWlQGLJH 4XHOOH GHU 2ULHQWLHUXQJ XQG $QOHLWXQJ DQ 'DGXUFK ZHUGHQ GLH QDFKIROJHQGHQ 9RUJlQJH XQWHU J|WWOLFKHQ 6FKXW] JH VWHOOW 1DFKGHP DQVFKOLHHQG DOOH QLFKWHVVHQWLHOOHQ :HVHQKHLWHQ PLW +LOIH YRQ YLHU .DUGLQDOSXQNWHQ YHUEDQQW ZRUGHQ VLQG ZHUGHQ GLH YLHU (U]HQJHO DQJHUXIHQ GLH YLHU NRQNUHWLVLHUWHQ )XQNWLRQHQ GHU LQQHUHQ :HOW GHU 3V\FKH HLQ GRSSHOWHV *HJHQVDW]SDDU GDPLW VLH GLH 6SKlUH GHU PDJLVFKHQ 2SHUDWLRQ VFKW]HQ ZHOFKH GHU .UHLV GHV 6HOEVW LVW =XP $EVFKOX ZLUG HUQHXW GDV K|KHUH 6HOEVW DQ JHUXIHQ ZRGXUFK GLH JHVDPWH =HUHPRQLH YRQ $QIDQJ ELV (QGH XQWHU GHQ 6FKXW] GHV J|WWOLFKHQ *HLVWHV JHVWHOOW ZLUG 'HU HUVWH $EVFKQLWW GHV 5LWXDOV GHU GLH 3XQNWH XPIDW LGHQWLIL]LHUW GDV K|KHUH 6HOEVW GHV 2SHUDWRUV PLW GHQ K|FKVWHQ $VSHNWHQ GHV VH SKLURWKLVFKHQ 8QLYHUVXPV (U EHNUlIWLJW GLH HVVHQWLHOOH ,GHQWLWlW GHU 6HHOH PLW GHP NROOHNWLYHQ %HZXWVHLQ GHU JHVDPWHQ 0HQVFKKHLW %HL ZHLWHUIKUHQGHU $QDO\VH PWH PDQ VDJHQ GD GDV KHEUlL VFKH :RUW $WHK ©'Xª VLFK DXI GHQ J|WWOLFKHQ ZHLHQ *ODQ] EH]LHKW DXI GDV K|KHUH 6HOEVW GDV MHGHQ 0HQVFKHQ EHUVFKDWWHW ,QGHP PDQ GLHVHV /LFKW ELV ]XU 0DJHQJHJHQG KHUXQWHU]LHKW V\PEROLVFKIUGLH)HZHOFKHEHLGHU$XVIKUXQJGHV5LWXDOV
QXU XQWHU 6FKZLHULJNHLWHQ ]X HUUHLFKHQ ZlUHQ ZLUG GHU YHUWLNDOH %DONHQ GHV .UHX]HV LQ GHU ,PDJLQDWLRQ YHUDQNHUW VRZLH GXUFK 9LEULHUHQ YRQ :RUWHQ ZHOFKH EHVDJHQ GD GLH (LJHQVFKDIWHQ GHV K|KHUHQ 6HOEVW VRZRKO 0DFKW DOV DXFK +HUUOLFKNHLW XPIDVVHQ 6WUHQJHZLHDXFK/LHEHXQG*WH'DV*OHLFKJHZLFKWLVWGDVEHVRQGHUH 0HUNPDO GHV .UHX]HV DOV 6\PERO XQG GDV 1DFKYROO ]LHKHQ GHV NDEEDOLVWLVFKHQ .UHX]HV LQQHUKDOE GHU $XUD EHNUlIWLJW GHQ $EVWLHJ GHV *HLVWHV XQG VHLQ *OHLFKJHZLFKW LQQHUKDOE GHV %H ZXWVHLQV RGHU LQQHUKDOE GHU PDJLVFKHQ 6SKlUH 'LHVH %HGHXWXQJ ZLUG QRFK XQWHUVWULFKHQ GXUFK GLH *HVWH GHV )DOWHQV GHU +lQGH EHU GHP 7LSKDUHWK=HQWPP GHP +HU]]HQWUXP GHU +DUPRQLH XQG GHV *OHLFKJHZLFKWV XQG GXUFK GDV 6SUHFKHQ YRQ OH2ODKP $PHQ LQ(ZLJNHLW$PHQ 'DV 6DQVNULWZRUW 6DWWYD EHLQKDOWHW 5HLQKHLW 5K\WKPXV XQG +DUPRQLH XQG LVW XQWHU GHQ GUHL *XQDV©*UXQGHLJHQVFKDIWHQª GLHMHQLJH GLH VLFK DXI GHQ *HLVW EH]LHKW %HLP ZHVWOLFKHQ bTXLYDOHQW GLHVHV 6FKHPDV GDV GHU $OFKLPLH HQWVWDPPW VLQG GLH GUHL (LJHQVFKDIWHQ (QWVSUHFKXQJHQ GHU GUHL ZLFKWLJVWHQ DOFKLPL VWLVFKHQ 3ULQ]LSLHQ 6DO] 6FKZHIHO XQG 4XHFNVLOEHU 8QWHU GLHVHQ LVWGDV8QLYHUVHOOH4XHFNVLOEHUHLQH(LJHQVFKDIWYRQ5HLKHU MHQHP KHLOLJHQ(QJHOZHOFKHUGHUJ|WWOLFKH:lFKWHUXQG%HREDFKWHULVWGHU GLH 6HHOH GHU 0HQVFKHQ EHUVFKDWWHW XQG RKQH 8QWHUOD DXI HLQH JHRUGQHWH $QQlKHUXQJ ZDUWHW DXI GD VHLQ 9HKLNHO ]X VHLQHU HLJHQHQ =LHUGH HUKREHQ ZHUGHQ P|JH +LHU EHVWHKW HLQH VHKU VWDUNH bKQOLFKNHLW]ZLVFKHQGHUWLEHWLVFKHQ$QGDFKWVEXQJXQGMHQHUGLH ZHLWHU REHQ DOV HLQH GHU ZLFKWLJVWHQ hEXQJHQ GHU NDEEDOLVWLVFKHQ 0DJLHGHUZHVWOLFKHQ7UDGLWLRQDQJHIKUWZRUGHQLVW /DPDLVPXVXQGGLH(XFKDULVWLH
,Q GHP 7HLOGHV%XFKHVLQZHOFKHP:DGGHOOGLHODPDLVWLVFKH )HLHU GHU (XFKDULVWLH EHVFKUHLEW ILQGHQ ZLU HLQH ZHLWHUH ZLFKWLJH 3D UDOOHOH ]XU ZHVWOLFKHQ 0DJLH 'RUW ZLUG EHVFKULHEHQ GD GHU 3ULHVWHURGHU/DPD GHUGLH=HUHPRQLHOHLWHWYHUSIOLFKWHWLVWVLFK HWZD YLHUXQG]ZDQ]LJ 6WXQGHQ YRU %HJLQQ GHU =HUHPRQLH GXUFK HLQ ULWXHOOHV %DG]XUHLQLJHQVRZLHGDGXUFKGDHUVHLQHQ*HLVWGXUFK VWlQGLJHV 5H]LWLHUHQ YRQ 0DQWUDV RGHU ,QYRNDWLRQHQ HUKHEW 'LH HLJHQWOLFKH%HVFKUHLEXQJGHVLQQHUHQRGHUPDJLVFKHQ$VSHNWVGHV
5LWXDOV VROO KLHU REJOHLFK VLH QLFKW EHVRQGHUV JXW LVW VR ZLHGHUJH JHEHQZHUGHQZLHVLHLP%XFKVWHKW©1DFKGHPDOOH9RUEHUHLWXQJHQ JHWURIIHQ VLQG XQG GLH *HPHLQGH YHUVDPPHOW LVW ]LHKW GHU 3ULHVWHUGHUVLFK]XYRUGXUFKGLHZHLWHUREHQEHVFKULHEHQHQ5LWXDOH ]HUHPRQLHOOJHUHLQLJWKDWXQGGHULQ5REHXQG0DQWHOJHNOHLGHWLVW YRP JURHQ %LOGQLV GHV %XGGKD $PLWD\XV HLQHQ 7HLO GHU J|WWOLFKHQ (VVHQ] MHQHU *RWWKHLW DE LQGHP HU GHQ 9DM]D VHLQHV UGRL MHKWL W DJ 'RUMH DXI GLH 1HNWDUVFKDOH OHJW ZHOFKH GHU DEJHELOGHWH %XGGKD $PLWD\XV DXI VHLQHP 6FKR KlOW ZlKUHQG HU GDV DQGHUH (QGH DXI GLH HLJHQH %UXVW XQPLWWHOEDU EHU GHP +HU]HQ VHW]W 'XUFK GLHVH 9HUELQGXQJ VWU|PW ZLH GXUFK HLQHQ 7HOHJUDSKHQGUDKW GHU J|WWOLFKH *HLVW XQG GHU /DPD PX QXQ YLVXDOLVLHUHQ GD VHLQ +HU] VLFK LQ WDWVlFKOLFKHU 9HUHLQLJXQJ PLW GHP GHV *RWWHV $PLWD\XV EHILQGHW XQG GD HU LQ GLHVHP $XJHQEOLFN VHOEVW MHQHU *RWWLVWª 1DFKGLHVHU0HGLWDWLRQZHUGHQGDV5HLVRSIHUXQGGLH)OVVLJNHLW LQ HLQHU VSH]LHOOHQ 9DVH GXUFK VHKU ©KHIWLJHª ,QYRNDWLRQHQ XQG GXUFK =LPEHOPXVLN JHZHLKW $QVFKOLHHQG QHKPHQ GLH 9HU VDPPHOWHQ GLH JHZHLKWH 1DKUXQJ XQG GDV JHZHLKWH :DVVHU ]X VLFK $XV WKHXUJLVFKHU 6LFKW LVW GDV *UXQGSULQ]LS GHU (XFKDULVWLH ]LHPOLFK HLQIDFK HLQPDO DEJHVHKHQ GDYRQ GD HV XQ]lKOLJH $UWHQ GHU (XFKDULVWLH PLW Y|OOLJ XQWHUVFKLHGOLFKHQ =LHOVHW]XQJHQ JLEW (LQH 6XEVWDQ] ZLUG JHZlKOW GLH JHPl GHU /HKUH YRQ GHQ 6\PSD WKLHQ HLQH $IILQLWlW ]X HLQHU EHVWLPPWHQ $UW YRQ VSLULWXHOOHU .UDIW RGHU ]X HLQHP *RWW KDW 'LHVH 6XEVWDQ] ZLUG ]HUHPRQLHOO JHZHLKW 6R EHVWHKW HLQH :HL]HQREODWH DXV GHU 6XEVWDQ] GHU *|WWLQ GHV .RUQV XQG ZLUG HQWZHGHU GHU 0DFKW GHU 9HQXV RGHU GHP (OHPHQW (UGH ]XJHRUGQHW VRZLH YRQ &HUHV RGHU 3HUVHSKRQH EHKHUUVFKW bWKHULVFKH gOH ZUGHQ GHP (OHPHQW )HXHU ]XJHRUGQHW GHVVHQ 6FKXW]JRWWKHLW +RUXV LVW 2OLYHQ ZUGHQ GHU .UDIW JHZHLKW GLH GXUFK GDV DVWURORJLVFKH 7LHUNUHLV]HLFKHQ :DVVHUPDQQ GXUFK GDV (OHPHQW /XIW XQG GXUFK GLH *|WWLQ +DWKRU UHSUlVHQWLHUW ZLUG :HLQ ZLUG 'LRQ\VRV XQG GHQ 6RQQHQJ|WWHUQ LP DOOJHPHLQHQ 2VLULV5DXVZ ]XJHRUGQHW 'XUFK HLQH XPIDVVHQGH 7DEHOOH YRQ (QWVSUHFKXQJHQ NDQQ PDQ MHGH 6XEVWDQ] ]XU PDWHULHOOHQ %DVLV IU GLH 0DQLIHVWDWLRQ HLQHU VSLULWXHOOHQ ,GHH PDFKHQ 'LH ]HUHPRQLHOOH :HLKXQJ GHU PDWHUL HOOHQ*UXQGODJHPLWWHOVHLQHU$QUXIXQJGHUJ|WWOLFKHQ.UDIW
YROOEULQJWGDVZDVJHZ|KQOLFKDOV:XQGHUGHU7UDQVVXEVWDQWLDWL2Q 6WRIIXPZDQGOXQJ EH]HLFKQHW ZLUG $XV PDJLVFKHU 6LFKW ZlUHHV YRU]X]LHKHQ ]X VDJHQ 'LH ]XQlFKVW WRWH XQG ZLUNXQJVORVH 6XEVWDQ] ZLUG LQ HLQHQ OHEHQGLJHQ 2UJDQLVPXV XPJHZDQGHOW NXU]JHVDJWLQHLQHQ7DOLVPDQ'LH:HLKXQJOlGWGLH6XEVWDQ]DXI XQGJLEWLKUJHZLVVHUPDHQHLQH6HHOH 3LH0DJLHGHU7DOLVPDQH
$Q GLHVHU 6WHOOH PX LFK IHVWVWHOOHQ GD LFK JDQ] XQG JDU QLFKW PLW MHQHQ $XWRUHQ DXV GHQ %HUHLFKHQ GHU :LVVHQVFKDIW XQG GHU 0DJLH EHUHLQVWLPPH GLH DXI EHUWULHEHQH RGHU IDOVFKH :HLVH YRQ GHU PRGHUQHQ 3V\FKRORJLH EHHLQGUXFNW GLH :LUNXQJ HLQHV 7DOLVPDQV JlQ]OLFK DXI 6XJJHVWLRQ ]XUFNIKUHQ 'DV LVW Y|OOLJHU 8QVLQQ ,FK NDQQ QXU YHUPXWHQ GD MHPDQG GHU VR HWZDV EHKDXSWHW QLFKW GLH JHULQJVWH (UIDKUXQJ PLW PDJLVFKHU 3UD[LV KDW 'DV +HUVWHOOHQ YRQ 7DOLVPDQHQ VWHKW DP $QIDQJ MHGHU PDJLVFKHQ 3UD[LV RGHU VROOWH GLHV ]XPLQGHVW 0DQJHO DQ (UIDKUXQJ VHOEVW LQ GLHVHP JUXQGOH JHQGHQ $VSHNW PDJLVFKHU .XQVW YHUIlOVFKW MHGH 0HLQXQJ EHU DQGHUH)RUPHQPDJLVFKHU3UD[LV :LU KDEHQ HV KLHU PLW HLQHP 3UREOHP ]X WXQ GDV YRU PHKU DOV HLQHP -DKUKXQGHUW EHUHLWV LQ HLQHP DQGHUHQ %HUHLFK DXIWDXFKWH 'LH IUKHQ JURHQ 0DJQHWLVHXUH LQ GHU 1DFKIROJH 0HVPHUV EHNDQQWH 3HUV|QOLFKNHLWHQ ZLH 3X\VHJXU 'HOHX]H GX 3RWHW XQG /DIRQWDLQH EHKDXSWHWHQ VLH VHLQHQ PLWWHOV GHV :LOOHQV XQG GHU ,PDJLQDWLRQ LQ GHU /DJH VLFK HLQHP (LQ)OX YRQ DXHQ ]X |IIQHQ XQG GDQQ DXV LKUHP HLJHQHQ 2UJDQLVPXV HLQH $UW 9LWDONUDIW RGHU HLQHQ WLHULVFKHQ 0DJQHWLVPXV ]X EHUWUDJHQ 6LH EHKDXSWHWHQ GLHVH .UDIW GLH GHQ JHVDPWHQ 5DXP GXUFKGULQJH WKHUDSHXWLVFK QXW]HQ ]X N|QQHQ 6SlWHU DOV $QKlQJHU GHU 6FKXOPHGL]LQ YHU VXFKWHQ VLFK GLH YRQ GHQ $QKlQJHUQ 0HVPHUV HLQJHIKUWHQ 7UDQFH3KlQRPHQH XQG +HLOXQJVPHWKRGHQ DQ]XHLJQHQ YHUZDUIHQ VLH GLH 7KHRULH HLQHU UHDOHQ EHUWUDJEDUHQ .UDIW XQG HQWZLNNHOWHQ VWDWW GHVVHQ GLH 7KHRULH GHU 6XJJHVWLRQ %HJLQQHQG PLW %UDLG GHP HLQH 5HLKH DXVJH]HLFKQHWHU )RUVFKHU IROJWH JHODQJ HV GLH PDJQHWLVFKHQ 3KlQRPHQH PLW UHLQ SV\FKRORJLVFKHQ 0LWWHOQ KHUYRU]XUXIHQ RKQH GD PDQ GLH +\SRWKHVH GHV WLHULVFKHQ 0D JQHWLVPXVEHPKHQPXWH
'RFK EHGHXWHW GLH 7DWVDFKH GD 3KlQRPHQH GXUFK HLQH EH VWLPPWH 0HWKRGH KHUYRUJHUXIHQ ZHUGHQ N|QQHQ QRFK QLFKW GD LKU =XVWDQGHNRPPHQ GXUFK HLQH DQGHUH 0HWKRGH HLQH 9HUIlO VFKXQJ LVW (V NDQQ GXUFKDXV VHLQ GD GXUFK Y|OOLJ XQWHUVFKLHG OLFKH 0HWKRGHQ GLH DXI JDQ] DQGHUHQ +\SRWKHVHQ EDVLHUHQ lKQOLFKH (UJHEQLVVH HU]LHOW ZHUGHQ ZREHL EHLGH (UNOlUXQJHQ LQ LKUHP=XVDPPHQKDQJVWLPPLJXQGLQGHU/DJHVHLQN|QQHQHLQHQ 7DWVDFKHQ]XVDPPHQKDQJ]XHUNOlUHQ,QMHGHP)DOOP|FKWHLFKKLHU DQPHUNHQ GD GLH ([LVWHQ] HLQHV WLHULVFKHQ 0DJQHWLVPXV RGHU GLH 0|JOLFKNHLW GHU hEHUWUDJXQJ GHVVHQ ZDV LP 2VWHQ DOV 3UDQD EH]HLFKQHWZLUGQLHZLGHUOHJWZXUGH ,P *HJHQWHLO HV LVW QLFKW HLQPDO EHVRQGHUV VFKZLHULJ GLH ([L VWHQ]GLHVHU0|JOLFKNHLWKLQOlQJOLFK]XEHZHLVHQ1HKPHQZLUDQ GDHLQQRUPDOHUJHVXQGHU0HQVFKVHLQH)LQJHUEHUGHP$UPHLQHU ]ZHLWHQ 3HUVRQ VFKZHEHQ OlW XQG VLFK YRUVWHOOW XQG ZLOO GD 3UDQD LQ ODQJHQ KDXFKGQQHQ (QHUJLHVWUDKOHQ DXV VHLQHQ )LQJHUQ VWU|PW :HQQ GLH ]ZHLWH 3HUVRQ ]LHPOLFK UXKLJ VLW]W XQG HLQH 2EMHNWLYLWlW GHV )KOHQV XQG :DUWHQV HQWZLFNHOW ZLUG VLH EDOG HQWZHGHU HLQHQ NDOWHQ =XJ DXI MHQHP $UP YHUVSUHQ RGHU HLQ .LW]HOQ LQ GHQ HLJHQHQ )LQJHUVSLW]HQ 3KlQRPHQH GLH GXUFK GDV (LQIOLHHQ YRQ 3UDQDKHUYRUJHUXIHQ ZHUGHQ 'LHV KDW QLFKWV PLW 6XJJHVWLRQ ]X WXQ GHQQ GLHVHV ([SHULPHQW N|QQHQ DXFK 0HQ VFKHQ GXUFKIKUHQ GLH QLFKW GDV *HULQJVWH EHU GLH *UXQGSULQ ]LSLHQ GHU 6XJJHVWLRQ ZLVVHQ XQG GLH GHVKDOE QLFKW XQPLWWHOEDU IU 6XJJHVWLRQ HPSIlQJOLFK VLQG 6SRQWDQ XQG RKQH MHGH %HHLQIOXV VXQJ ZHUGHQ VLH GLH 7DWVDFKH EHREDFKWHQ GD HV ]X HLQHU JUHLI EDUHQ hEHUWUDJXQJ YRQ 9LWDOHQHUJLH JHNRPPHQ LVW (V PWH P|JOLFK VHLQ GLHV PLW +LOIH HLQHV VHKU IHLQHQ 0HLQVWUXPHQWV IHVW]XVWHOOHQ $XHUGHP NDQQ PDQ MHQH YRQ GHQ +lQGHQ DXVJH KHQGHQ (QHUJLHVWU|PH GHXWOLFK VHKHQ ZHQQ PDQ GLH +DQGYRU HLQ VFKZDU]HV6WFN6WRIIKlOW hEULJHQV NDQQ PDQ GLH )lKLJNHLW GLHVH .UDIW ]X HU]HXJHQ NXOWLYLHUHQ ,FK KDEH GLHVHV 7KHPD XQWHU GHP *HVLFKWVSXQNW GHU 6HOEVWWKHUDSLH LP OHW]WHQ .DSLWHO GLHVHV %XFKHV 'LH .XQVW GHV ZDKUHQ +HLOHQVDXVIKUOLFKHU EHKDQGHOW $XHUGHP P|FKWH LFK GHPLQWHUHVVLHUWHQ /HVHU HPSIHKOHQ 'U %HUQDUG +ROODQGHUV :HUN +\SQRWLVP DQG 6HOI+\SQRWLVP]X OHVHQ LQ ZHOFKHP GLH 3UREOHPH GHU 6XJJHVWLRQ XQGGHVWLHULVFKHQ0DJQHWLVPXVDXVIKUOLFKLQ9HUELQGXQJPLW
H[SHULPHQWHOOHU $UEHLW GLVNXWLHUW ZHUGHQ XQG GLHV DXI KRFKLQWHO OLJHQWH:HLVH =XVDPPHQIDVVHQG P|FKWH LFK VDJHQ GD 6XJJHVWLRQ QLFKW LP JHULQJVWHQ GLH 7DWVDFKH GHV WLHULVFKHQ 0DJQHWLVPXV ZLGHUOHJW XQG HEHQVRZHQLJ GLH :LUNVDPNHLW HLQHV PLW .UDIW DXIJHODGHQHQ 7D OLVPDQV 'HQQ ZLH LFK EHUHLWV DQJHGHXWHW KDEH VWHKHQ ZLU YRU HEHQ GHP 3UREOHP GDV YRU YLHOHQ -DKUHQ EH]JOLFK GHU )UDJH HQWVWDQG RE 7UDQFH XQG GLH WKHUDSHXWLVFKHQ 3KlQRPHQH GHV 0HVPHULVPXV DXI 6XJJHVWLRQ RGHU DXI HLQHU hEHUWUDJXQJ YRQ 9L WDOHQHUJLH EHUXKWHQ :HQQ HV P|JOLFK LVW .UDIW DXI HLQHQ DQGHUHQ 0HQVFKHQ]XEHUWUDJHQ VRZLHLFKEHKDXSWHZDUXPVROOGLHV GDQQQLFKWDXFKIUHLQHVSH]LILVFKH6XEVWDQ]JHOWHQGLHVLFKLKUHU 1DWXU QDFK EHVRQGHUV GD]X HLJQHW DXIJHODGHQ ]X ZHUGHQ" 'LH hEHUOLHIHUXQJ YHUVLFKHUW LPPHU ZLHGHU GD 0HWDOOH .ULVWDOOH (GHOVWHLQH XQG 3HUJDPHQW EHVRQGHUV JHHLJQHWH 0DWHULDOLHQ IU 7DOLVPDQH VHLHQ :HQQ GLH 9LWDOLWlW GHV PDJLVFKHQ 3UDNWLNHUV GXUFK HLQIDFKH 0HGLWDWLRQVEXQJHQ VR ZLH VLH LP .DSLWHO'LH .XQVW GHV ZDKUHQ +HLOHQV EHVFKULHEHQ ZHUGHQ RGHU GXUFK DXV JHVSURFKHQ PDJLVFKH 0HWKRGHQ ZLH ,QYRNDWLRQ XQG 9LVXDOLVLH UXQJ YRQ *RWWHVIRUPHQ YHUVWlUNW ZLUG ZLUG GLH PDWHULHOOH *UXQGODJHGHV7DOLVPDQVPLWHLQHUPlFKWLJHQ$XIODGXQJYHUVHKHQ .RQVHNUDWLRQ:HLKXQJ
'LH $UW GHU :HLKXQJ LVW QDWUOLFK HLQ ZHLWHUHU ZLFKWLJHU 3XQNW DXI GHQ LFK DOOHUGLQJV KLHU QLFKW DXVIKUOLFK HLQJHKHQ ZHUGH ZHLO GDV HLQH ODQJZLHULJH XQG NRPSOL]LHUWH $QJHOHJHQKHLW ZlUH (LQHU GHU ZLFKWLJVWHQ %HVWDQGWHLOH HLQHU =HUHPRQLH ]XU :HLKXQJ HLQHV 7DOLVPDQV RGHU HLQHU HXFKDULVWLVFKHQ 6XEVWDQ] LVW GDV DVWUDOH $QQHKPHQ HLQHU *RWWHVIRUP :HQQ GHU 3UDNWLNHU VLFK GDUEHU LP NODUHQLVWZHOFKHU$UWGLHJ|WWOLFKH.UDIWVHLQVROOGLHHUDQUXIHQ ZLOOXQGZHQQHUGLHPDWHULHOOH6XEVWDQ]DXVJHZlKOWKDWGLHMHQHU .UDIW HQWVSULFKW PX HU ZlKUHQG GHU =HUHPRQLH GHU :HLKXQJ EHVWUHEW VHLQ GHQ J|WWOLFKHQ *HLVW LQVHLQHP,QQHUHQ]XHUKHEHQ DXI GD HU ZDKUKDIW PLW GHP %HZXWVHLQ MHQHU VSH]LHOOHQ .UDIW RGHU *RWWKHLW HLQV ZLUG -H VRUJIlOWLJHU XQG YROOVWlQGLJHU GLHVH G\QDPLVFKH9HUHLQLJXQJYROO]RJHQZLUGXPVRDXWRPDWLVFKHU
XQGHLQIDFKHUZLUGGLHDQVFKOLHHQGH$XIODGXQJGHU7HOHVPDWD,P )DOO GHU (XFKDULVWLH JHKW HV MHGRFK QLFKW QXU XP HLQH VSLULWXHOOH ,GHQWLILNDWLRQ PLW GHU *RWWKHLW DOV 9RUDXVVHW]XQJ IU GHQ $XIVWLHJ ]XPXQEHNDQQWHQXQLYHUVDOHQ*RWWVRQGHUQXPGLHDOFKLPLVWLVFKH 7UDQVPXWDWLRQGHUQLHGHUHQ9HKLNHOLQHLQHQYHUNOlUWHQ.|USHU :lKUHQG VLFK GDV K|KHUH %HZXWVHLQ GHV 0DJXV LQ GHU (NVWDVH DXIO|VW LVW HV ]ZLQJHQG QRWZHQGLJ HLQH PDJLVFKH 9HUELQGXQJ ]ZLVFKHQ MHQHP J|WWOLFKHQ %HZXWVHLQ XQG VHLQHP SK\VLVFKHQ .|USHU VRZLH VHLQHQ (PRWLRQHQ KHU]XVWHOOHQ 'HVKDOE ZLUG EHL GHU ]HUHPRQLHOOHQ 0DJQHWLVLHUXQJ HLQHU PDWHULHOOHQ 6XEVWDQ] JDQ] JOHLFK RE HV VLFK GDEHL XP HLQH +RVWLH XP :HLQ RGHU XP HLQH 3IODQ]H KDQGHOW GLHVH PLW GHU JOHLFKHQ J|WWOLFKHQ .UDIW GXUFK WUlQNW 'XUFK GHQ 9HU]HKU GHU 6XEVWDQ] ZLUG MHQH WUDQVIRUPLH UHQGH .UDIW LQGDV6HLQXQGLQGHQSK\VLVFKHQ.|USHUGHV0DJLHUV DXIJHQRPPHQ ZR VLH GDV :HUN GHU 7UDQVIRUPDWLRQ YROOEULQJW 'HU $XWRU PLW GHP 3VHXGRQ\P 7KHULRQ VFKUHLEW ©'HU 0DJLHU ZLUG HUIOOW YRQ *RWW JHQlKUW PLW *RWW WUXQNHQ YRQ *RWW 1DFK XQG QDFK ZLUG VHLQ .|USHU GXUFK GLH LQQHUH :HLKXQJ *RWWHV JH UHLQLJW 7DJIU 7DJZLUG VHLQH VWHUEOLFKH+OOHGLHGLHLUGLVFKHQ %HVWDQGWHLOH VHLQHV 6HLQV VFKW]W ZLUNOLFK XQG ZDKUKDIWLJ ]XP 7HPSHO GHV +HLOLJHQ *HLVWHV 7DJ IU 7DJ ZLUG 0DWHULH GXUFK J|WWOLFKHQ*HLVWHUVHW]WGDV0HQVFKOLFKHGXUFKGDV*|WWOLFKH8QG VFKOLHOLFK LVW GLH 8PZDQGOXQJ YROOHQGHW *RWW PDQLIHVWLHUW LQ )OHLVFKZLUGVHLQ1DPHGDQQVHLQª (VHUIRUGHUWHLQZHQLJPDJLVFKH(UIDKUXQJGLHVZLUNOLFKZUGLJHQ ]X N|QQHQ GRFK KRIIH LFK GD GLHVH YHUHLQIDFKHQGH (UNOlUXQJ ]XPLQGHVW PHKU /LFKW DXI GLH ZDKUH 1DWXU GHU =HUHPRQLH ZLUIW DOV:DGGHOOV%HVFKUHLEXQJHVWXW ,FK P|FKWH EHU GHQ :HUW HLQHU HXFKDULVWLVFKHQ =HUHPRQLH GLH QLFKW YRP 0DJLHU VHOEVW ]HOHEULHUW ZLUG QXU HLQ SDDU :RUWH VDJHQ :HQQ PDQ EHGHQNW GD EHL HLQHU VDFKNXQGLJ DXVJHIKUWHQ HXFKDULVWLVFKHQ =HUHPRQLH HLQ 7DOLVPDQ HQWVWHKW VR ZLUG NODU GD GLHVHU 3UR]H SULQ]LSLHOO GHP ]XJXWH NRPPW GHU GLH =HUH PRQLH DXVIKUW (V HUVFKHLQW PLU DOV QXW]ORVHV 5LWXDO HQ EORFDQ HLQHU(XFKDULVWLH=HUHPRQLHWHLO]XQHKPHQ'HU%XGGKDVROOJHVDJW KDEHQZHQQPDQVLFK]XP=LHOJHVHW]WKDEHGLH(UO|VXQJ 'HU%HJULII7HOHVPDWD3OXUDO VWHKWKLHUIU7DOLVPDQH$QPGhEHUV
RGHU GLH %HIUHLXQJ ]X HUODQJHQ VHLHQ =HUHPRQLHQ QLFKW YRP JH ULQJVWHQ :HUW ,FK JODXEH QLFKW GD HU PLW GLHVHQ :RUWHQ GLH PDJLVFKH7UDGLWLRQDQJUHLIHQZROOWHVRQGHUQYLHOPHKU=HUHPRQLHQ EHLGHQHQHVHLQ3XEOLNXPJLEWGDVDQGHU=HUHPRQLHQLFKWDNWLY WHLOQLPPW %HL GHUDUWLJHQ =HUHPRQLHQ JHKW HV QLFKW XP HLQH 6WLPXODWLRQ GHU VSLULWXHOOHQ .UlIWH GHU 7HLOQHKPHU VRQGHUQ XP HLQH SDVVLYH 7HLOQDKPH DQ GHQ $NWLYLWlWHQ HLQHV 6WHOOYHUWUHWHUV 'LH0DJLHVWLPPWHEHQVRZLHGHU%XGGKLVPXVPLW0DGDPH%OD YDWVN\V $XVVSUXFK EHUHLQ GD ©GLH ]HQWUDOH 'RNWULQ GHU HVRWH ULVFKHQ 3KLORVRSKLH NHLQHP 0HQVFKHQ 3ULYLOHJLHQ RGHU VSH]LHOOH *DEHQ ]XJHVWHKW DXHU GHQMHQLJHQ GLH VLFK VHLQ (JR GXUFK SHUV|Q OLFKH%HPKXQJXQGSHUV|QOLFKHV9HUGLHQVWDQJHHLJQHWKDWª
'LHWLEHWLVFKHQ0\VWHULHQVSLHOH
,FK P|FKWH PLFK QRFK PLW HLQHP OHW]WHQ 7KHPD HWZDV DXVIKU OLFKHU EHVFKlIWLJHQ EHYRU LFK GLHVH YHUJOHLFKHQGH 6WXGLH DE VFKOLHH 'D]X PX LFK PLFK IU HLQHQ $XJHQEOLFN YRQ :DGGHOO DEZHQGHQ XQG PLFK PLW ]ZHLDQGHUHQ(UIRUVFKHUQGHV7LEHWLVFKHQ %XGGKLVPXV 0DGDPH $OH[DQGUD 'DYLG1HHO XQG 'U : < (YDQV :HQW] EHVFKlIWLJHQ %HLGH $XWRUHQ KDEHQ PLW (LQIKOXQJVYHU P|JHQ XQG 6DFKYHUVWlQGQLV EHU GLH 5HOLJLRQ XQG GLH 0\VWHUL HQVSLHOH 7LEHWV EHULFKWHW ,FK P|FKWH LP IROJHQGHQ HLQ WLEHWLVFKHV 0\VWHULHQVSLHO PLW HLQHP PDJLVFKHQ 5LWXDO GHU ZHVWOLFKHQ 0DJLH YHUJOHLFKHQ &K|GLVWHLQH$UW0\VWHULHQVSLHOXQGGHU0DJLHURGHU'HU &K|G LVW@ YRU DOOHP HLQ P\VWLVFKHV 'UDPD PLW HLQHP HLQ]LJHQ PHQVFKOLFKHQ 6FKDXVSLHOHU XQG ]DKOUHLFKHQ JHLVWLJHQ :HVHQ GLH ZLUNOLFK JHVFKDXW RGHU QXU LQ GHU 9RUVWHOOXQJ DXI GLH PDJLVFKH %H VFKZ|UXQJ KLQ ]XJHJHQ VFKHLQHQ 'LH %KQH LVW LUJHQGHLQ JUDXHQHUUH JHQGHU 2UW RIW PLWWHQ LQ GHU VFKQHHEHGHFNWHQ %HUJZHOW GHV WLEHWLVFKHQ +LPDOD\D ]Z|OI ELV IQI]HKQWDXVHQG )X EHU GHP 0HHU RGHU QRFK K|KHU JHZ|KQOLFKHLQ3ODW]DQGHP/HLFKQDPH]HUVWFNHOWXQGGHQ
:|OIHQ XQG *HLHUQ ]XP )UlH YRUJHZRUIHQ ZHUGHQ ,Q GHQ QLHGULJHQ +|KHQ YRQ %KXWDQ XQG 6LNNLP LVW HV PHLVW HLQ GLFKWHU'VFKXQJHO LQ /lQGHUQ PLW /HLFKHQYHUEUHQQXQJ ZLH LQ 1HSDO XQG ,QGLHQ ZLUG GLH 9HUEUHQQXQJVVWlWWH YRUJH]RJHQ )ULHGK|IH XQG 2UWH GLH YRQ E|VHQ XQG GlPRQLVFKHQ*HLVWHUQDXIJHVXFKWZHUGHQVLQGLPPHUJHHLJQHW /DQJH 3UREH]HLWHQ XQG VRUJIlOWLJH 9RUEHUHLWXQJ XQWHU HLQHP 0HLVWHU GHV &K|G EHIlKLJHQ GHQ 6FKOHU HUVW ]XU $XVIKUXQJ GHU VHHOLVFK JHIlKU OLFKHQ5LWHQ=X%HJLQQPXGHUGHQ&K|G9ROO]LHKHQGHVLFKVHOEVWDOV GLH *RWWKHLW GHU DOOHV HUIOOHQGHQ :HLVKHLW VFKDXHQ %OlVW HU GDQQ GLH 7URPSHWH DXV 6FKHQNHONQRFKHQ ]XU $QUXIXQJ GHU *XUXV XQG YHUVFKLH GHQHU5HLKHQJHLVWLJHU:HVHQVREHJLQQWHUGHQULWXHOOHQ7DQ]%HZXWVHLQ XQG :LOOH VLQG GDEHL DXVVFKOLHOLFK GHP HLQHQ K|FKVWHQ =LHO ]XJHZHQGHW GDV ]XU (UNHQQWQLV GHU XQWUHQQEDUHQ (LQKHLW YRQ 6DQJVDUD XQG1LUYDQDIKUW
'LH 6WURSKHQ GUHL ELV VLHEHQ ZHLVHQ DXI GLH WLHIH 6\PEROLN KLQ GLH GHP 5LWXDO ]XJUXQGH OLHJW XQG GLHVH 6\PEROLN VWW]W VLFK DXI GLH IQI +LPPHOVULFKWXQJHQ GLH HQWVSUHFKHQGHQ ©IQI :HOWWHLOH GHU ODPDLVWL VFKHQ .RVPRJUDSKLH PLW LKUHQ JHRPHWULVFKHQ )LJXUHQ GHQ IQI /HLGHQ VFKDIWHQ +D 6WRO] /XVW (LIHUVXFKW XQG 6WXPSIKHLW GLH GHU
6R HUNOlUW (YDQV:HQW] GHQ &$|G5LWXV DOV HLQ K|FKVW NRPSOL ]LHUWHV PDJLVFKHV 5LWXDO LQ ZHOFKHP GHU /DPD QDFKGHP HU VLFK GXUFK YLVXDOLVLHUWH $QQDKPH HLQHU DVWUDOHQ RGHU LGHDOHQ *RWWHV IRUP PLW HLQHU *RWWKHLW LGHQWLIL]LHUW KDW :HVHQLQYR]LHUW GLHZLU LP :HVWHQ DOV (QJHO *HLVWHU XQG (OHPHQWDUZHVHQ EH]HLFKQHQ ZUGHQ DXI GD VLH DQ GHU =HUHPRQLH WHLOQHKPHQ (U OlGW VLH DXVGUFNOLFKHLQLQVHLQHHLJHQH6SKlUHHLQ]XWUHWHQ(UZlKOWDOVR QLFKW ZLH EHL DQGHUHQ VSH]LILVFKHQ )RUPHQ GHU ,QYRNDWLRQ HLQH EHVWLPPWH.UDIWDXVXQGYHUVXFKWGDQQDOOHDQGHUHQDXVGHU :DOWHU (YDQV:HQW] *HKHLPOHKUHQ DXV 7LEHW 6SKLQ[9HUODJ %DVHO 6I
6SKlUH VHLQHV %HZXWVHLQV IHUQ]XKDOWHQ 9LHOPHKU VFKDIIW HU VR]X VDJHQHLQ9DNXXP(U|IIQHWVLFKY|OOLJXQGOlWMHGHQ(LQIOX]X GHULKQGXUFKGULQJHQXQGDQVHLQHU1DWXUWHLOKDEHQP|FKWH ,Q HLQHP JHZLVVHQ 6LQQH RSIHUW HU GLHVHQ :HVHQKHLWHQ VHLQ 'DVHLQ 6HLQ *HLVW VHLQH (PRWLRQHQ XQG *HIKOH XQG GLH 2UJDQH XQG .QRFKHQ VHLQHV SK\VLVFKHQ .|USHUV VRZLH DXFK GLH ZLQ]LJHQ =HOOHQ XQG /HEHZHVHQ DXV GHQHQ VLFK HUVWHUH ]XVDPPHQVHW]HQ ZHUGHQDOOHVDPWGHQ(LQGULQJOLQJHQ]XP9HU]HKUEHUODVVHQVRIHUQ VLHGLHVZQVFKHQ 6HLW XQGHQNOLFKHQ =HLWHQ LQ XQ]lKOLJHQ 'DVHLQVIRUPHQHQWQDKP LFK ]DKOORVHQ :HVHQ XQHLQJHGHQN LKUHV :RKOVHLQV XQG /HEHQV ZDV LFK ]XU 1DKUXQJ.OHLGXQJXQG]XMHGHU$UW'LHQVWOHLVWXQJEUDXFKWHXQGHU KLHOW GDPLWPHLQHQ.|USHUJHVXQGIU|KOLFKXQGVWDUNJHQXJXPGHP 7RGH ]XWURW]HQ 'HU 7DJ LVW JHNRPPHQ PHLQH 6FKXOGHQ ]X WLOJHQ VR ELHWH LFK DOV 2SIHUJDEH GLHVHQ PHLQHQ VR JHOLHEWHQ XQG YHUZ|KQWHQ .|USHU ]XU 9HU QLFKWXQJGDU ,FK JHEH PHLQHQ /HLE GHQ +XQJULJHQ PHLQ %OXW GHQ 'XUVWLJHQ PHLQH +DXWGHQ1DFNWHQPHLQH.QRFKHQDOV)HXHUXQ JGHQHQGLH)URVWOHLGHQ
,FK JHEH PHLQ *OFNKLQIUGLH8QJOFNOLFKHQXQGPHLQ/HEHQVRGHP P|JHGLH6WHUEHQGHQQHXEHOHEHQª
.XU] JHVDJW KDQGHOW HV VLFK KLHU XP HLQH VHKU LGHDOLVLHUWH )RUP SHUV|QOLFKHQ 2SIHUV EHL GHP GLH JHVDPWH ,QGLYLGXDOLWlW K\SR WKHWLVFK MHJOLFKHP :XQVFK VLH ]X EHVLW]HQ GDUJHERWHQ ZLUG $OV PDJLVFKH 2SHUDWLRQ PX VLH KLQVLFKWOLFK LKUHU WHFKQLVFKHQ 9LU WXRVLWlW VHKU KRFK HLQJHVFKlW]W ZHUGHQ XQG IU GHQMHQLJHQ GHU LQ DXVUHLFKHQGHP 0DH PLW GHQ ]XU 'XUFKIKUXQJ GLHVHV 5LWXDOV QRWZHQGLJHQ PDJLVFKHQ *DEHQ DXVJHVWDWWHW LVW LVW GLHV HLQ K|FKVW ZLUNVDPHV5LWXDOZDVVHLQH(UJHEQLVVHDQEHWULIIW $OH[DQGUD 'DYLG1HHO JLEW XQV HLQH DXVJH]HLFKQHWH %HVFKUHL EXQJGHUOHW]WHQ3KDVHGHV'UDPDV ©-HW]W VROO HU LQ VHLQHU 9RUVWHOOXQJ ]X HLQHP NOH LQHQ $VFKHQKDXIHQ JHZRUGHQVHLQPLWWHQLQHLQHP6HHVFKZDU]HQ6FKODPPHVGHP
$OH[DQGUD'DYLG1HHO+HLOLJHXQG+H[HU)$%URFNKDXV:LHVEDGHQ6
6FKODPPDOOGHUJHLVWLJHQ%HIOHFNXQJXQGGHUE|VHQ7DWHQGLHHUVHLW XQYRUGHQNOLFKHQ=HLWHQZlKUHQGXQ]lKOLJHU9HUN|USHUXQJHQHUOLWWHQ RGHUEHJDQJHQKDW
M (UVROOVLFKGDUEHUNODUZHUGHQGDGHU2SIHUJHGDQNHGHULKPHEHQ
QRFKVRHUKDEHQVFKLHQQLFKWVDOV7lXVFKXQJQLFKWVDOVGLH$XVJHEXUW HLQHVJDQ]VLQQORVHQ6WRO]HVLVW(UGHUQLFKWVLVWNDQQMDDXFKQLFKWV JHEHQ =XP6FKOXZLUIWGHU3ULHVWHULQVWXPPHU(QWVDJXQJVHOEVWGHQ2SIHU JHGDQNHQQRFKDOVHLWOHQ5DXVFKYRQVLFKDEª 'LH5ROOHGHV,FK
:HQQ ZLU HLQHQ 9HUJOHLFK ]ZLVFKHQ GLHVHP &K|G5LWXVXQG HX URSlLVFKHQ PDJLVFKHQ 5LWXDOHQ YHUVXFKHQ ZROOHQ VWHKHQ ZLU YRQ $QIDQJ DQ QLFKW YRU GHP 3UREOHP GHU 0LQGHUZHUWLJNHLW GHU .RQ]HSWLRQ RGHU GHU WHFKQLVFKHQ 9LUWXRVLWlW ZLH YLHOH $XWRUHQ ELVKHU DQJHQRPPHQ KDEHQ VRQGHUQ YRU HLQHP XQJHKHXUHQ 8Q WHUVFKLHGKLQVLFKWOLFKGHUPHWDSK\VLVFKHQ$QVFKDXXQJ(VEHVWHKW HLQGHXWOLFKHUNHQQEDUHU*HJHQVDW]VRZRKOLQGHUSKLORVRSKLVFKHQ DOV DXFK LQ GHU SUDJPDWLVFKHQ =LHOVHW]XQJ 6R ZLH DOOH DQGHUHQ EXGGKLVWLVFKHQ 6FKXOHQ XQG 6HNWHQ NlPSIW DXFK GHU 0DKD\DQD %XGGKLVPXV JHJHQ GLH ,GHH GHV ,FK 6HLQH JHVDPWH3KLORVRSKLH XQG VHLQH JHVDPWH (WKLN KDW XQPLWWHOEDU GLH (OLPLQDWLRQ GHV ,FK ]XP =LHO'HU0DKD\DQD%XGGKLVPXVYHUWULWWGLH$QVFKDXXQJGDV,FK VHL OHGLJOLFK HLQ 3KDQWDVLHJHVSLQVW NLQGOLFKHU 8QZLVVHQKHLW HWZD VR ZLH GLH PLWWHODOWHUOLFKH 9RUVWHOOXQJ GD GLH 6RQQH GLH (UGH XPNUHLVHHLQH)ROJHPDQJHOKDIWHU.HQQWQLVZDU'HVKDOE]LHOWGLH JHVDPWH UHOLJL|VH XQG SKLORVRSKLVFKH /HKUH GHV 0DKD\DQD %XGGKLVPXV GDUDXI GLH 3KDQWDVLH GHV ,FK DXV GHP 'HQNHQ VHLQHU 6FKOHU ]X HQWIHUQHQ 'LHV LVW GLH $QDWWD/HKLHGHUHQ %HGHXWXQJ IU GHQ %XGGKLVPXV LQ GHU hEHU]HXJXQJ JUQGHW GD GLHVHP 3KDQWDVLHSURGXNWDOOHV/HLGXQGDOOHV8QJOFNOLFKVHLQHQWVSULQJH 'LH HXURSlLVFKH 0DJLH KLQJHJHQ YHUGDQNW LKUH JUXQGOHJHQGHQ /HKUHQ GHU .DEEDOD =ZDU KDW GLH .DEEDOD YLHO PLW GHQ *UXQG]JHQ GHV%XGGKLVPXVJHPHLQVDPGRFKLVWGLH0HWDSK\VLNGHU.DEEDOD $'DYLG 1HHODD26
LQ KRKHP 0DH DXI W\SLVFK HXURSlLVFKH :HLVH LFK]HQWULHUW 'HQ QRFK VLQG GLH %HJULIIH LQ GHU 3KLORVRSKLH VR DOOJHPHLQ JHKDOWHQ GD PDQ VLH DXV HLQHU 9LHO]DKO YRQ %OLFNZLQNHOQ IUHL LQWHUSUHWLHUHQ NDQQ 2EJOHLFK GLH .DEEDOD GLH hEHO XQG %HJUHQ]XQJHQ YHUGDPPW GLH GDV IDOVFKH ,FK(PSILQGHQ EHJOHLWHQ LVW LKU =LHO ZHQLJHU GLH =HUVW|UXQJ GHV ,FK DOV YLHOPHKU PLW HFKW ZHVWOLFKHP 6LQQ IUV 3UDNWLVFKH VHLQH/lXWHUXQJXQG,QWHJUDWLRQ'DV,FKLVWHLQVHKU QW]OLFKHV ,QVWUXPHQW ZHQQ HV GLH ZLFKWLJH /HNWLRQ JHOHUQW KDW GD HV QLFKW PLW GHP 6HOEVW LGHQWLVFK VRQGHUQ QXU HLQVSH]LHOOHV ,QVWUXPHQW LVW HLQ NOHLQHU $VSHNW GHU $NWLYLWlW LP JU|HUHQ *DQ]HQ GHU *HVDPWSHUV|QOLFKNHLW 'HVKDOE PX DXFK GLH SUDN WLVFKH 7KHXUJLH GLH DOV hEHU6WUXNWXU DXV GHU JUXQGOHJHQGHQ 7KHRULH GHU .DEEDOD HUZlFKVW GXUFK HLQH VROFKH 6LFKWZHLVH ]ZDQJVOlXILJ EHHLQIOXW ZHUGHQ 6WDWW GHV 9HUVXFKV GDV ,FK Y|OOLJ DXV]XPHU]HQ YHUVXFKW GLH .DEEDOD XQG PLW LKU GLH SUDNWLVFKH 0DJLH GHQ HQJHQ +RUL]RQW GHV ,FK ]X HUZHLWHUQ VHLQHQ :LU NXQJVEHUHLFK ]X YHUJU|HUQ VHLQH 6LFKW XQG VHLQH VSLULWXHOOH $XIQDKPHIlKLJNHLW ]X YHUEHVVHUQ NXU] JHVDJW VHLQHQ SV\FKR ORJLVFKHQ :HUW VR ]X YHUJU|HUQ GD HV VLFK PLW GHP XQLYHUVDOHQ 6HOEVW ]X LGHQWLIL]LHUHQ YHUPDJ LQGHP HV ]XU .HQQWQLV QLPPW GD GLHVHV 6HOEVW DOOH 'LQJH GXUFKGULQJHQ NDQQ 'LHV LVW HLQ JUXQG OHJHQGHU 8QWHUVFKLHG ]ZLVFKHQ GHU WLEHWLVFKEXGGKLVWLVFKHQ XQG GHUZHVWOLFKHQP\VWLVFKHQ6LFKWZHLVH 'DV5LWXDOGHV8QJHERUHQHQ*HLVWHV
6R ZLH GHU &K|G5LWXV VHLQH :XU]HOQ LP SULPLWLYHQ |Q$QL PLVPXV GHV YRUEXGGKLVWLVFKHQ 7LEHW KDW XQG YRQ GHQ 0DKD\DQD %XGGKLVWHQ ]ZHLIHOORV XPJHVWDOWHW ZXUGH KDW DXFK GDV ZHVWOLFKH 5LWXDO GDV LFK QXQ XQWHUVXFKHQ P|FKWH HLQHQ VHKU SULPLWLYHQ 8UVSUXQJ ©'DV 5LWXDO GHV 8QJHERUHQHQª GLHV LVW GHU 1DPH XQWHU GHP HV EHNDQQW JHZRUGHQ LVW ZXUGH LQ VHLQHU XUVSUQJ OLFKHQ )RUP LP ODKUH YRQ &KDUOHV :\FOLIIH *RRGZLQ 0$ LQ HLQHU 3XEOLNDWLRQ GHU &DPEULGJH $QWLTXDULDQ 6RFLHW\ PLW GHP 7LWHO )UDJPHQWV RI D *UDHFR(J\SWLDQ :RUN XSRQ 0DJLH YHU|I IHQWOLFKW'DV5LWXDOLVWVHLWKHULQEHWUlFKWOLFKHP0DHXPJHVWDOWHW ZRUGHQ8UVSUQJOLFKHLQSULPLWLYHV*HEHW]XU$EZHKUGHV%|VHQ LVWHVYRQHUIDKUHQHQLQGHUZHVWOLFKHQ7UDGLWLRQGHV
*ROGHQ 'DZQ DXVJHELOGHWHQ 7KHXUJHQ ]X HLQHP K|FKVW NRPSOH[HQ DEHU DXFK KRFKZLUNVDPHQ XQG LQVSLULHUHQGHQ :HUN HQWZLFNHOW ZRUGHQ 'DV 5LWXDO EHVWHKW KHXWH DXV HLQHP ODQJHQ *HGLFKW IQI ,QYRNDWLRQHQ YRQ (OHPHQWDUZHVHQ XQG HLQHP DXV IKUOLFKHQ6FKOXWHLO(LQJHEHWWHWLQGLHVH%HVWDQGWHLOHGHV5LWXVLVW HLQHHXFKDULVWLVFKH=HUHPRQLH ,P 3URORJ LGHQWLIL]LHUW VLFK GHU 0DJLHU PLW 2VLULV XQG ]ZDU PLWWHOV GHU YLVXDOLVLHUWHQ $QQDKPH GLHVHU l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|KW XQG LQWHJULHUW ZRUGHQ LVW GDV PHQVFKOLFKH ,FK ZHQQ HV VLFK LQ HLQHU DXVJH JOLFKHQHQ 3RVLWLRQ ]ZLVFKHQ +LPPHO XQG (UGH EHILQGHW XQG EHLGH PLWHLQDQGHU DXVV|KQW XQG YHUHLQLJW ,Q HLQHP ,QLWLDWLRQVULWXDO GHV *ROGHQ 'DZQ GHILQLHUW HLQ $PWVWUlJHU ZlKUHQG HU GLH DVWUDOH 0DVNH GHV *RWWHV DQQLPPW GLH 1DWXU GLHVHV *RWWHV LQGHP HU YHUVLFKHUW ©,FK ELQ 2VLULV GLH6HHOH LP =ZLOOLQJVDVSHNW YHUHLQWPLWGHP+|KHUHQ GXUFK 5HLQLJXQJ YROOHQGHW GXUFK /HLGHQ YHUKHUUOLFKW GXUFK 3UIXQJ ,FKELQGRUWKLQJHNRPPHQZRGLHJURHQ*|WWHUVLQGGXU FKGLH0DFKW GHV0lFKWLJHQ1DPHQVª
'HU/DPD GHUGHQ&$|G5LWXVYROO]LHKWLPDJLQLHUWVLFKDOVHLQH GHU 'DNLQLV GHU *RWWKHLW GHU DOOHV HUIOOHQGHQ :HLVKHLW 1DFK GHU ,QWHUSUHWDWLRQ YRQ $OH[DQGUD 'DYLG1HHO UHSUlVHQWLHUW GLH'DNLQL GHQ K|KHUHQ :LOOHQ GHV/DPD 'LH .RQ]HSWH EHLGHU 5LWXDOH VLQG HLQDQGHULQGHU7DWVHKUlKQOLFK 'RFK GDPLW LVW GLH QLFKW PHKU DOV REHUIOlFKOLFKH bKQOLFKNHLW DXFKVFKRQ]X(QGH'HQQLP&K|G5LWXDOLGHQWLIL]LHUWGHU/DPD RGHU (LQVLHGOHU GLH YHUVFKLHGHQHQ $UWHQ YRQ 'lPRQHQ XQG *HL VWHUQ GLH HU KHUEHLUXIW PLW VHLQHQ HLJHQHQ /DVWHUQ XQG RSIHUW VLFK DXIGLHVH:HLVH(UVLHKWVHLQ,FKDOVDXV+DRGHU:XW6WRO]/XVW
(LIHUVXFKWXQG'XPPKHLWEHVWHKHQGXQGZLUIWGLHVH(LJHQVFKDIWHQ GHQ HLQGULQJHQGHQ *HLVWHUQ XQG 'lPRQHQ ]XP )UlH YRU (U YLVXDOLVLHUW VHLQHQ .|USHU DOV /HLFKQDP GHU YRQ GHU ]RUQLJHQ *RWWKHLW]HUVWFNHOWZLUGZlKUHQGVHLQHLQQHUHQ2UJDQHYRQHLQHU +RUGHE|VDUWLJHU:HVHQYHU]HKUWZHUGHQ 1XQZHUGHQDXFKLPZHVWOLFKHQ6\VWHPZlKUHQGGHV5LWXDOVGHV 8QJHERUHQHQ*HLVWHVGLHYHUVFKLHGHQHQ$UWHQYRQ(OHPHQWDUJHLVWHUQ YRQ LKUHQ $XIHQWKDOWVRUWHQ 6WDWLRQHQ KHUEHLJHUXIHQ 'RFK ZLUG LKQHQ EHIRKOHQ GXUFK GHQ 0DJLHU KLQGXUFK]XIOLHHQ DXI GD VLH LKQQLFKWYHU]HKUHQXQGLKQVR]HUVW|UHQVRQGHUQLKQVWDWWGHVVHQ UHLQLJHQ 'LH =LHOVHW]XQJ LVW KLHU HLQH Y|OOLJ DQGHUH%HL MHGHU 6WDWLRQ RGHU MHGHP .DUGLQDOYLHUWHO ZLUG PLWWHOV $QQHKPHQ GHU DVWUDOHQ)RUPXQGGXUFK1DFK]HLFKQHQGHUULFKWLJHQ/LQLHQIRUPHQ GLH HQWVSUHFKHQGH 6FKXW]JRWWKHLW DQJHUXIHQ ,QIROJH GHU 9LEUDWLRQ GHU ULFKWLJHQ EDUEDULVFKHQ 1DPHQ GHU (YRNDWLRQGLH ©EHL GHQ KHLOLJHQ 5LWHQ HLQH XQDXVVSUHFKOLFKH 0DFKW KDEHQªXQG GXUFK $XVVSUHFKHQGHU:RUWHGHU0DFKWVWUPHQLP2VWHQGLH6\OSKHQ >(OHPHQWDUZHVHQ GHU /XIW@ GXUFK GLH 6SKl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lKUHQG DOO GLHVHU9RUJlQJHGHU%HIHKOHEHZXWGLHHUGHQ (OHPHQWDUJHLVWHUQ LQ HLQHU VHLQHU ,QLWLDWLRQHQ JHJHEHQ KDW 2GHU EHVVHU JHVDJW VLQG GLHVH ,QMXQNWLRQHQ ]XP IHVWHQ %HVWDQGWHLO VHLQHUXQEHZXWHQ6LFKWGHV/HEHQVJHZRUGHQ ©6HLGHVKDOEIOLQNXQGDNWLYZLHGLH6\OSKHQGRFKPHLGH/HLFKWIHUWLJ NHLW XQG /DXQHQKDIWLJNHLW 6HL HQHUJLHYROO XQG VWDUN ZLH GLH 6DODPDQGHU GRFK PHLGH *HUHL]WKHLW XQG :LOGKHLW 6HL IOH[LEHO XQG DXIPHUNVDP JHJHQEHU (UVFKHLQXQJVIRUPHQ ZLH GLH 8QGLQHQ GRFK PHLGH 0LJ JDQJXQG:DQNHOPXW6HLIOHLLJXQGJHGXOGLJZLHGLH*QRPHQGRFK
PHLGH 6FKZHUIlOOLJNHLW XQG +DEVXFKW 6R VROOVW GX DOOPlKOLFK GLH .UlIWH GHLQHU 6HHOH HQWZLFNHOQ XQG GLFK EHUHLW PDFKHQ GLH *HLVWHU GHU (OH PHQWH]XEHIHKOLJHQª
1DFK GHU $QUXIXQJ GHU (OHPHQWDUJHLVWHU HLQH VHKU VFKZLHULJH $UEHLW GLH PLQGHVWHQV VLHE]LJ RGHU DFKW]LJ 0LQXWHQ LQWHQVLYHU PDJLVFKHU .RQ]HQWUDWLRQ HUIRUGHUW EHJLQQW GHU 3UDNWLNHU GHU YRQ GHU *HJHQZDUW GHU LQYR]LHUWHQ .UDIW XQG YRQ GHU KHLOVDPHQ :LUNXQJ LKUHU MHZHLOLJHQ 5HLQLJXQJHQ DXI VHLQH 3HUVRQ EHU]HXJW LVW PLW GHU ]ZHLWHQ 3KDVH GHV 5LWXDOV LQGHP HU GDV IQIWH (OH PHQW GLHDOFKLPLVWLVFKH4XLQWHVVHQ]$NDVKDRGHUGHQbWKHULQ VHLQHQ QHJDWLYHQ XQG SRVLWLYHQ $VSHNWHQ LQYR]LHUW 'LHVH EHLGHQ ,QYRNDWLRQHQ VROOHQ HLQHQ =XVWDQG GHU $XVJHZRJHQKHLW ]ZLVFKHQ GHQ EHUHLWV KHUEHLJHUXIHQHQ (OHPHQWDUJHLVWHUQ KHUVWHOOHQ $XHUGHP ZLUG DXI GLHVH :HLVH HLQH lWKHULVFKH +RKOIRUP RGHU HLQ DVWUDOHV 9DNXXP HU]HXJW LQ GLH E]Z GDV GLH K|KHUHQ VSLULWXHOOHQ .UlIWH KLQDEVWHLJHQ N|QQHQ XP PLW GHU XQEHZXWHQ 3V\FKH GHV 0DJLHUVLQ.RQWDNW]XWUHWHQ $Q GLHVHP 3XQNW GHV 5LWXDOV ZLUG GDV P\VWLVFKH 0DKO ]HOHEULHUW ZHOFKHV GLH JHJHQWHLOLJH %HGHXWXQJ GHV )HVWPDKOV GHV &K|G5L WXDOV ]X KDEHQ VFKHLQW =XPLQGHVW HQWVWHKW GHU $QVFKHLQ HLQHU JHJHQWHLOLJHQ %HGHXWXQJ 'HU 0DJLHU ]HOHEULHUW GLH (XFKDULVWLH GHU YLHU(OHPHQWHQDFKGHPHUPDFKWYROOGLHKHQRFKLVFKH,QYRNDWLRQGHU P\VWLVFKHQ 7DIHO GHU 9HUHLQLJXQJ UH]LWLHUW KDW GLH EHJLQQW gO 6RQXIYDRUVDJL JRKR ODGD EDODWD ©,FK ZHUGH EHU HXFK JHELHWHQ VSULFKW GHU *RWW GHU *HUHFKWLJNHLWª 'HU 'XIW GHU 5RVH DXI GHP $OWDUGLHVFKZDFKH)ODPPHGHUDQJH]QGHWHQ/DPSHGDV%URWGDV6DO] XQG GHU :HLQ ZHUGHQ DXI GLHVH :HLVH PLW GHU J|WWOLFKHQ .UDIW DXIJHODGHQVRGDGHU(LQ)OXGHVJ|WWOLFKHQ*HLVWHVGDHUDQGHQl (OHPHQWHQ WHLOKDW QLFKW QXU VHLQ ,FK VRQGHUQ DOO GLH XQ]lKOLJHQ@ =HOOHQ XQG /HEHQ HUKHEW GLH VHLQ HLJHQHV QLHGHUHV 9HKLNHO GHU 0DQLIHVWDWLRQDXVPDFKHQ8QGPHKUQRFKGHQQGLHVEHHLQIOXW DOOH VSLULWXHOOHQ :HVHQ (QJHO (OHPHQWDUZHVHQXQG *HLVWHU GLHDXIGLH ,QYRNDWLRQKLQQXQGLH$VWUDOVSKlUHGXUFKGULQJHQ6RYROOEULQJWHUGDV ZDV GLH *UXQGVlW]H DOOHU P\VWLVFKHQ 5HOLJLRQHQ YRUVFKUHLEHQ GLH (UK|KXQJ DOOHU QLHGHUHQ /HEHQVIRUPHQ ZHQQ GHU 0HQVFK VLFK VHOEVW HQWZLFNHOW'LHV WXW HU LQ GLHVHP )DOO PLWWHOVGHU PDJLVFKHQ ,QYRNDWLRQ XQG GHU (XFKDULVWLH VR GD HU QLFKW QXUVHOEVW GXUFK GLH :LUNXQJGHVJ|WWOLFKHQ*HLVWHVJHVHJQHWZLUGM
L
VRQGHUQ DXFK DOOH DQGHUHQ :HVHQ GLH ]XJHJHQ VLQG XP PLW LKP ]XVDPPHQ DQ GHU +HUUOLFKNHLW WHLO]XKDEHQ 'HV 6HJHQV LVW NHLQ (QGH 'HQQ DXFK KLHU ZLUG HEHQVR ZLH EHLP &$|LL5LWXDO GLH 0DFKWNHLQHP:HVHQYRUHQWKDOWHQ =X %HJLQQ GHU =HUHPRQLH ZHUGHQ DOOH .UlIWH XQG :HVHQKHLWHQ MHGZHGHU $UW VRUJVDP GXUFK HQWVSUHFKHQGH 5LWXDOH JHEDQQW XP HLQHQ UHLQHQ XQG JHKHLOLJWHQ 5DXP IU GLH =HUHPRQLH ]X VFKDIIHQ 'RFK LQ GLHVH JHZHLKWH 6SKlUH ZHUGHQ (OHPHQWDUZHVHQ MHGHU $UW EHUXIHQ GLH LQ GHU IQIIlOWLJHQ .ODVVLIL]LHUXQJ GHU 'LQJH HQWKDOWHQ VLQG 8QG GLHVH PlFKWLJH 6FKDU LVW HV GLH QDFKGHP VLH GLH 6SKlUH GHV 0DJLHUV GXUFK 9HU]HKU DOOHU XQHUZQVFKWHQ 3KlQRPHQH JHUHLQLJW KDW GXUFK GLH (XFKDULVWLH XQG GDV +HUDEVWHLJHQ GHV VWUDKOHQGHQ /LFKWV JHZHLKW XQG JHVHJQHW ZLUG 'LH JHVDPWH 2SHUDWLRQ ZLUG VFKOLHOLFKGXUFKGLHIROJHQGH6FKOXDQUXIXQJ3HURUDWLRQ EHVLHJHOW ©,FKELQ(U'HU8QJHERUHQH*HLVW GHUPLWGHQ)HQVHKHQNDQQ6WDUN XQGGDV8QVWHUEOLFKH)HXHU ,FKELQ(UGLH:DKUKHLW,FKELQ(UGHU KDWGD%|VHVLQGHU:HOWZLUNW ,FKELQ(UGHUEOLW]WXQGGRQQHUW ,FKELQ(UGHVVHQ0XQGDOO]HLW)HXHUVSHLW ,FKELQ(UGHU(U]HXJHUXQG2IIHQEDUHUGHV/LFKWV ,FKELQ(UGLH*QDGHGHU:HOW'DVYRQGHU 6FKODQJHXPJUWHWH+HU]!LVWPHLQ1DPHª
*OHLFK]HLWLJ NRPPW HV ]XU 1HXELOGXQJ GHU *RWWHVIRUP GHV 2VLULV 8QGEHLMHGHP6DW]GLHVHV6FKOXK\PQXVEHPKWVLFKGHU0DJLHULQ VHLQHU,PDJLQDWLRQ]XUHDOLVLHUHQGDGLHVH6lW]HDXIGLHJ|WWOLFKHQ (LJHQVFKDIWHQ XQG DXI GLH &KDUDNWHULVWLND GHV *RWWHV DQWZRUWHQ GHVVHQ/LFKWDXFKMHW]WQRFK]XLKPKHUDEGULQJW'DV(QGHUJHEQLV LVW ,OOXPLQDWLRQ XQG (NVWDVH 'DV %HZXWVHLQ GHV0DJLHUVYHUHLQW VLFKPLWGHP%HZXWVHLQDOOHUOHEHQGHQ:HVHQ(VNRPPW]XHLQHU XQDXVVSUHFKOLFKHQ9HUHLQLJXQJPLWGHP/LFKWGHP(LQHQ/HEHQ GDVDOOHQ5DXPXQGDOOH=HLWGXUFKGULQJW ,FK KRIIH GLHV KDW JH]HLJW GD GLH ZHVWOLFKHQ PDJLVFKHQ .RQ ]HSWLRQHQ GHQMHQLJHQ GLH LQ 7LEHW XQG LQ DQGHUHQ /lQGHUQ GHV 2VWHQVJHSIOHJWZHUGHQLQNHLQHU+LQVLFKWXQWHUOHJHQVLQGZLH
OHLGHULQGHQOHW]WHQ-DKUHQVRRIWEHKDXSWHWZXUGH/HGLJOLFKGHU SKLORVRSKLVFKH +LQWHUJUXQG LVW HLQ HWZDV DQGHUHU 8QG GLHVH $Q GHUVDUWLJNHLW KDW LKUH :XU]HOQ LQ YHUVFKLHGHQDUWLJHQ SV\FKRORJL VFKHQ%HGUIQLVVHQ XQGGLHVLQGJUXQGVlW]OLFKQLHXQYHUHLQEDU 7KHXUJLHXQGVSLULWXHOOH(QWZLFNOXQJ
,FK PX QXQ GHQ 9HUJOHLFK ]ZLVFKHQ GHQ YHUVFKLHGHQHQ (UVFKHLQXQJVIRUPHQ PDJLVFKHU 3UD[LV GHU |VWOLFKHQ XQG GHU ZHVW OLFKHQ 7UDGLWLRQ EHHQGHQ 0HLQ :XQVFK VLH PLWHLQDQGHU ]X YHUJOHLFKHQ HQWVSUDQJ XUVSUQJOLFK HLQHU NULWLVFKHQ $XVHLQDQ GHUVHW]XQJ PLW 0DMRU :DGGHOOV ZLUNOLFK VHKU DQVSUXFKVYROOHP %XFK LQ GHP GHU /HVHU QRFK YLHOH ZHLWHUH IHVVHOQGH XQG KRFKLQWHU HVVDQWH 7KHPHQ ILQGHW $QGHUHUVHLWV ELQ LFK GHU 0HLQXQJ GD GHU /HVHU IDOOV HU QLFKW EHU GHQ PDJLVFKHQ 6FKOVVHO ]X GHQ EHVFKULH EHQHQ hEXQJHQ XQG =HUHPRQLHQ GHU /DPDV YHUIJW VLFK ZDKU VFKHLQOLFK ODQJZHLOHQ XQG GHQ 6LQQ GHV 'DUJHVWHOOWHQ QLH ZLUNOLFK YHUVWHKHQ ZLUG %HLDOOHP JHEKUHQGHQ 5HVSHNW YRU GHU :HLVKHLW GHV 2VWHQVGHU LFK ZLH LFK KLHU DXVGUFNOLFKYHUVLFKHUQP|FKWH GLHJU|WH XQG WLHIVWH (KUIXUFKW HQWJHJHQEULQJH ELQLFK GRFK GHU hEHU]HXJXQJGDHLQSUDNWLVFKHV6WXGLXPGHU7KHXUJLHVRZLHHV YRP ZHVWOLFKHQ *HLVW HQWZLFNHOW ZXUGH EHVVHU DOV LUJHQG HWZDV DQGHUHV LQ GHU /DJH LVW HLQHQ HUOHXFKWHQGHQ6WUDKODXIGLHZDKUH 1DWXUGHUVSLULWXHOOHQ(QWZLFNOXQJ]XZHUIHQ9LHOH:HJHIKUHQ ]XGHPHLQHQ=LHOGHU*OFNVHOLJHQ9LVLRQ(LQHUGLHVHU3IDGHLVW GLH 0HGLWDWLRQ :DKUVFKHLQOLFK LVW GHU 2VWHQ KLQVLFKWOLFK GHU (QWZLFNOXQJ GHU 0HGLWDWLRQ XQG GHU UHLQ LQWURVSHNWLYHQ 3UR]HVVH GHV
GD GLH 7KHXUJLHPLW LKUHQ $XVVDJHQ EHU ,GHDOH NHLQH 9HUZLUUXQJ VWLIWHW 6LH YHUEUHLWHW NHLQ DEHUJOlXELVFKHV &KDRV EH]JOLFK GHU )XUFKW YRU 'lPRQHQ XVZ ZDV LQ GHU WLEHWLVFKHQ 0DJLH QDFK :DGGHOOV%XFK]XXUWHLOHQRIIHQVLFKWOLFKGHU)DOOLVW-HGHPDJLVFKH %HPKXQJ GHU /DPDV ZLUG EHVFKULHEHQ DOV VHL VLH DXV )XUFKWYRU E|VHQ*HLVWHUQRGHUDXV+DLKQHQJHJHQEHUJHERUHQ,FKPXGHU *HUHFKWLJNHLW KDOEHU KLQ]XIJHQ GD LFK QLFKW GHQ JHULQJVWHQ =ZHLIHO KDEH GD YLHOH /DPDV HLQ ZHVHQWOLFK VXEWLOHUHV 9HUVWlQGQLVLKUHV6\VWHPVKDEHQDOV:DGGHOOV%XFKYHUPXWHQOlW 'LH 7KHXUJLH QlKUW GDV ,GHDO GD LKUH 7HFKQLNHQ GLH VSLULWXHOOH (QWZLFNOXQJ I|UGHUQ DXI GD GHU hEHQGH GLH ZDKUHQ =LHOH GHU ,QNDUQDWLRQYHUIROJHQXQGHUUHLFKHQNDQQ8QGGLHVQLFKWDXVUHLQHU 6HOEVWVXFKW VRQGHUQ PLW GHP =LHO GDQDFK GHQ JHRUGQHWHQ )RUWVFKULWWGHU0HQVFKKHLW]XI|UGHUQXQGGDUDQWHLO]XQHKPHQELV ]XMHQHPYROONRPPHQHQ7DJDQGHPGLH+HUUOLFKNHLWGLHVHU:HOW YHUJHKW XQG GLH 6RQQH GHU :HLVKHLW DXIJHKW XP EHU GHP ZXQGHUEDUHQ0HHU]XVWUDKOHQ
,.DEEDODIU$QIlQJHU
(LQ)KUHU]XP/HEHQVEDXPIU/DLHQ
'LH .DEEDOD LVW HLQ DUFKDLVFKHV 6\VWHP GHU MGLVFKHQ 0\VWLN 6 / 0DF*UHJRU0DWKHUVVFKULHEYRU YLHOHQ-DKUHQLQHLQHPJHOHKUWHQ (LQIKUXQJVZHUN ]X GLHVHP 7KHPD GD GLH *UXQGOHKUHQ GHU .DEEDOD]XU/|VXQJGHUIROJHQGHQ3UREOHPHEHVWLPPWVHLHQ 'DV+|FKVWH6HLHQGH6HLQ:HVHQXQG6HLQH$WWULEXWH GLH.RVPRJRQLH GLH(UVFKDIIXQJGHU(QJHOXQGGHV0HQVFKHQ GDV/RVGHV0HQVFKHQXQGGHU(QJHO GDV:HVHQGHU6HHOH GDV:HVHQGHU(QJHO'lPRQHQXQG(OHPHQWDUJHLVWHU GLH%HGHXWXQJXQGGHU6LQQGHVJHRIIHQEDUWHQ*HVHW]HV GLHWUDQV]HQGHQWDOH6\PEROLNGHU=DKOHQ GLHLQGHQKHEUlLVFKHQ%XFKVWDEHQHQWKDOWHQHQEHVRQGHUHQ0\VWH ULHQ GHU$XVJOHLFKGHU*HJHQVlW]H
&KULVWLDQ *LQVEXUJ // ' GHU YRU HWZD IQI]LJ -DKUHQ DOVIHLQG VHOLJHU .ULWLNHU DXIWUDW YHUVXFKWH ]ZLVFKHQ GHU MGLVFKHQ 0\VWLN HLQHUVHLWVXQGGHU.DEEDODDQGHUHUVHLWV]XXQWHUVFKHLGHQ6HLQH 6LHKH,VUDHO5HJDUGLH'DVPDJLVFKH6\VWHPGHV*R OGHQ'DZQDD2 %G,6
ZHQLJ HLQIKOVDPH +DOWXQJ ZDU YRQ GHU (QJH GHV VRJHQDQQWHQ 5DWLRQDOLVPXV GHV -DKUKXQGHUWV JHSUlJW 'LHVH +DOWXQJ LVW PLWWOHUZHLOH YRQ GHQ :LVVHQVFKDIWHQ HEHQVR YHUZRUIHQ ZRUGHQ ZLHYRQGHQMHQLJHQGLHVLFKGHU(UIRUVFKXQJGHU0\VWLNZLGPHQ 'D *LQVEXUJV XQYHUV|KQOLFKH 6LFKWZHLVH PLWWOHUZHLOH QLFKW PHKU KDOWEDU LVW ZLUG YRQ HLQHP GHU VFKDUIVLFKWLJVWHQ PRGHUQHQ KHEUlLVFKHQ :LVVHQVFKDIWOHU QlPOLFK YRQ *HUVKRP * 6FKROHP DXVGUFNOLFK EHWRQW ,Q VHLQHP 0HLVWHUZHUN =XU .DEEDOD XQG LKUHU 6\PEROLN VFKUHLEW HU GD .DEEDOD GHP :RUWVLQQ QDFK HLQIDFK ©7UDGLWLRQª EHGHXWHW 6LH LVW GLH 7UDGLWLRQ GHV *|WWOLFKHQ HLQH HVRWHULVFKH 7UDGLWLRQ 6RPLW LVW VLH GLH 6XPPH GHU MGLVFKHQ 0\VWLN $XHUGHP IJW 6FKROHP QRFK KLQ]X GD GLH .DEEDOD HLQH ODQJH *HVFKLFKWH KDW GLH ZHVHQWOLFK OlQJHU XQG JHVLFKHUWHU LVW DOV PDQ ELVODQJ DQJHQRPPHQ KDW 6HLW YLHOHQ -DKUKXQGHUWHQ EW VLH HLQHQ WLHIHQ UHOLJL|VHQ XQG SKLORVRSKLVFKHQ (LQIOX DXI GHQ 7HLO GHV MGLVFKHQ 9RONHV DXV GHU VHLQ 9HUVWlQGQLV GHU SURVDLVFKHUHQ XQG RUWKRGR[HUHQ )RUPHQ XQG 9RUVWHOOXQJHQ GHV -XGDLVPXV ]X YHU WLHIHQ ZQVFKWH )U 6FKROHP ZLH DXFK IU YLHOH DQGHUH *HOHKUWH LVW *LQVEXUJV .ULWLN ZHLO VLH VLFK QLFKW DXI GLH KLVWRULVFKHQ 7DW VDFKHQVWW]WY|OOLJEHGHXWXQJVORV .RPPHQWDUHXQGhEHUVHW]XQJHQ
'LH .DEEDOD LVW NHLQ EHVWLPPWHV %XFK ZLH 8QNXQGLJH LQ GHU 9HUJDQJHQKHLW LUUWPOLFK DQJHQRPPHQ KDEHQ 'HU %HJULII .DEEDOD EH]HLFKQHW HLQH JDQ]H /LWHUDWXU HLQH ULHVLJH /LWHUDWXU GLH JU| WHQWHLOV DXV GHP 0LWWHODOWHU VRZLH DXV IUKHUHQ YRQ GHU *QRVLV JHSUlJWHQ3HULRGHQVWDPPW'HUJU|WH7HLOGLHVHU6FKULIWHQZXUGHLQ KHEUlLVFKHU XQG DUDPlLVFKHU 6SUDFKH YHUIDW :lKUHQG MHQHU 5HQDLVVDQFHGHU0\VWLN]XGHUHVLP-DKUKXQGHUWLQ3ROHQXQGLQ 0LWWHOHXURSDNDPGHU=HLWGHV&KDVVLGLVPXVZXUGHGLH/LWHUDWXU GHU .DEEDOD HUZHLWHUW QHXLQWHUSUHWLHUW XQG ZLHGHUYHU|IIHQWOLFKW 1XU HLQ NOHLQHU 7HLOGLHVHU %FKHU ZXUGH LQV 'HXWVFKHEHUVHW]W HLQQRFKJHULQJHUHULQGLHHQJOLVFKH6SUDFKH *HUVKRP*6FKROHP=XU.DEEDODXQGLKUHU6\PEROLN 6XKUNDPS? 9HUODJ)UDQNIXUWVWZ
1XU HLQLJH GHU ZLFKWLJVWHQ .ODVVLNHU GHU .DEEDOD VLQG KHXWH LP %XFKKDQGHO HUKlOWOLFK %HLVSLHOVZHLVH ZXUGH GHU6RKDU GHU YRQ 6SHUOLQJ XQG 6LPRQ LQV (QJOLVFKH EHUVHW]W ZXUGH HUVWPDOLJ LP -DKUH YRQ 6RQFLQR 3UHVV LQ (QJODQG YHU|IIHQWOLFKW 'DV ZHVHQWOLFK NOHLQHUH :HUN6HSKHU IHW]LUDK LVW VHLW OlQJHUHU =HLW LQ XQWHUVFKLHGOLFKHQ hEHUVHW]XQJHQ HUKl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lJW(LQLJH %FKHU GHU.DEEDODHQWKDOWHQ QLFKW QXU 7KHRULHQ XQG VHNWLHUHULVFKH (UNOlUXQJHQ DXI GHU *UXQGODJH IUKHU UDEELQLVFKHU ([HJHVH YRQ 7H[WHQ GHV $OWHQ 7H VWDPHQWV VRZLH (OHPHQWH GHV KHEUlLVFKHQ *ODXEHQV XQG GHU KH EUlLVFKHQ *HVFKLFKWH VRQGHUQ VLH XQWHUVFKHLGHQ VLFK YRQ GHQ PHLVWHQ DQGHUHQ P\VWLVFKHQ 6\VWHPHQ GXUFK VWlQGLJHV (LQJHKHQ DXIGLH7KHPDWLNGHV©DXVHUZlKOWHQ9RONHVªVRGDGLHVH7KHPDWLN ]XP5DQJHLQHU$UWNRVPLVFKGHWHUPLQLHUWHU7DWVDFKHHUKREHQZLUG 'LHVH 6LFKW ZLUG YHUPXWOLFK YLHOHQ 0HQVFKHQ XQVHUHU =HLW &KULVWHQZLH-XGHQQLFKWEHVRQGHUVEHKDJHQ:LUHUNHQQHQKHXWH 'LHHLQ]LJH]XU=HLWLQGHXWVFKHU6SUDFKHHUKlOWOLFKH$XVJDEHGHV6RKDU LVW GLHLQ'LHGHULFKV*HOEHU5HLKHHUVFKLHQHQHQDFKGHP8UWH[WDXVJH ZlKOWH hEHUVHW]XQJYRQ(UQVW0OOHU DOVRHLQH XQYROOVWlQGLJH$XVJDEH (LQH GHXWVFKH hEHUVHW]XQJ GHV 6HSKHU
ZHQLJHUGHQQMHGLH1RWZHQGLJNHLWGHU([LVWHQ]LQVWLWXWLRQDOLVLHUWHU 5HOLJLRQHQMHJOLFKHU$UWDQ 'HU/HEHQVEDXP
'LH *UXQGODJH GHU .DEEDOD ELOGHW DXV PRGHUQHU 6LFKW QLFKW LKUH P\VWLVFKH 6SHNXODWLRQ EHU GLH6FK|SIXQJ EHU GLH(VFKDWRORJLH GLH/HKUHYRQGHQOHW]WHQ'LQJHQ GHQ0HVVLDVGHQ6DEEDWXVZ VRQGHUQ GLHVH *UXQGODJH LVW IU XQV KHXWH GHU ©/HEHQVEDXPª 'DEHL KDQGHOW HV VLFK XP HLQH HLQIDFKH WKHRUHWLVFKH XQG PDWKH PDWLVFKH6WUXNWXUGLHDXIGHU,GHHHLQHU$UW©5HJLVWUDWXUªªEDVLHUW 'LHVH lXHUVW LOOXPLQLHUHQGH 0|JOLFKNHLW ZXUGH LP 6HSKHU -HW]LUDK GHP %XFK GHU *HVWDOWXQJ RGHU (QWVWHKXQJ EH VFKULHEHQ ,Q GLHVHP %XFK ZHUGHQ JHZLVVH ,GHHQ V\VWHPDWLVFK GHQ *UXQG]DKOHQ YRQ HLQV ELV ]HKQ ]XJHRUGQHW ,Q lKQOLFKHU :HLVH ZLUG DXFK PLW GHQ %XFKVWDEHQ GHV KHEUlLVFKHQ $OSKDEHWV YHUIDKUHQ 'LHVH ,GHH LVW GXUFKDXV HLQOHXFKWHQG ZHQQ PDQ EH GHQNW GD GLH KHEUlLVFKHQ %XFKVWDEHQ JOHLFK]HLWLJ =DKOHQ VLQG 'LH *HVDPWVXPPH GHU ]HKQ *UXQG]DKOHQ XQG GHU KHEUlLVFKHQ %XFKVWDEHQ HUJLEW GLH VRJHQDQQWHQ 3IDGH GHU :HLVKHLW ZHOFKH GHQ©/HEHQVEDXPªELOGHQ -HGHP GLHVHU 3IDGH RUGQHW MHQHV IUKH %XFK GHU (QWVWHKXQJ 3ODQHWHQ 6WHUQ]HLFKHQ *RWWHVQDPHQ (OHPHQWH +LPPHOVULFK WXQJHQ XQG DQGHUHV ]X 'LHV JHVFKLHKW VR DOV ZROOWH PDQ GLH *UXQGODJHQ IU HLQH 5HJLVWUDWXU E]Z HLQH 'DWHQEDQN VFKDIIHQ 6SlWHUH *HQHUDWLRQHQ YRQ *HOHKUWHQ XQG 6WXGHQWHQ KDEHQ GLHVHP JUXQGOHJHQGHQ 6\VWHP HLQH XQJHKHXUH 0HQJH YRQ ]XVlW]OLFKHQ ,QIRUPDWLRQHQ KLQ]XJHIJW 'D]X JHK|UHQ ,QIRUPDWLRQHQ DXV GHU JULHFKLVFKHQ XQG lJ\SWLVFKHQ 0\WKRORJLH PHGLWDWLYH (OHPHQWH DXV GHP 7DURW DXI P\VWLVFKHU (UIDKUXQJ EDVLHUHQGH YLVLRQlUH XQG HNVWDWLVFKH ,QIRUPDWLRQ HLQ .RQJORPHUDW YRQ .OlQJHQ *HU FKHQ )DUEHQ 'IWHQ (GHOVWHLQHQ XQG HEHQIDOOV LQ EHGHXWHQGHP 8PIDQJ ZLVVHQVFKDIWOLFKH 'DWHQ 6R LVW GLH /HKUH GHU .DEEDOD ]X HLQHPEHGHXWXQJVVFKZHUHQ6\QNUHWLVPXVJHZRUGHQ
'LH2UJDQLVDWLRQYRQ:LVVHQ
'LHVHV JHVDPWH *HELOGH GLHQW DXFK ZHLWHUKLQ GHU.ODVVLIL]LHUXQJ DOOHQ :LVVHQV (V RUJDQLVLHUW GLH ,QKDOWH GHV *HLVWHV XQG KLOIW 6\VWHPHMHJOLFKHU $UW]XHLQDQGHU LQ %H]LHKXQJ ]X VHW]HQXQGVLH PLWHLQDQGHU ]X YHUHLQHQ 6R HUP|JOLFKW GHU /HEHQVEDXP OHW]WOLFK DOOH $UWHQ YRQ :LVVHQ DXI GLH (LQKHLW ]XUFN]XIKUHQ 8QG VR NHKUHQZLU]XP+HU]HQQLFKWQXUGHUMGLVFKHQ.DEEDODVRQGHUQ DOOHU 0\VWLN ]XUFN ©'HQQ LFK KDEH 'LFK JOHLFKHUPDHQ LP ,FK XQGLP'XJHIXQGHQR'XPHLQ :XQGHUEDUHUPHLQKHLHUVHKQWHU (LQHU ,P (LQHQ XQG LP 9LHOHQ KDEH LFK 'LFK JHIXQGHQ )UZDKU LFKKDEH'LFKJHIXQGHQª :HU GLH 0|JOLFKNHLWHQ GLHVHU :XU]HOLGHH HLQPDO HUNDQQW KDW ZLUG VLH DOV XQHQGOLFK YLHO ZLFKWLJHU EHGHXWVDPHU XQG QW]OLFKHU EHJUHLIHQ DOV MHGH TXDVLP\VWLVFKH 7KHRULH GHU .RVPRJHQHVH RGHU $QWKURSRJHQHVH6LHLVWZHVHQWOLFKSURGXNWLYHUXQGXQJHKHXHUYLHO NUHDWLYHU DOVHVRWHULVFKH 6SHNXODWLRQHQ GDUEHUZDUXP GLH-XGHQ ]XP $XVHUZlKOWHQ 9RON ZXUGHQ ZDV Zl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|QQHQ LQ YLHU 6HJPHQWH ]X XQWHUWHLOHQ :LU VROOWHQ MHGRFK QLH YHUJHVVHQ GD GLHVH (LQWHLOXQJ LP *UXQGH Y|OOLJ ZLOONUOLFK LVW XQG XQV OHGLJOLFK GHQ =XJDQJ ]XU 7KHPDWLN HUOHLFKWHUQ VROO =ZLVFKHQ GHQ YLHU 6HNWRUHQ JLEW HV NHLQH *UHQ]OLQLHQ VRQGHUQ MHGHU7HLOJHKWIOLHHQGLQMHGHQDQGHUHQEHU 'HU YHUJOHLFKHQGH $VSHNW :HQQ PDQ GHQ /HEHQVEDXP DOV PDWKHPDWLVFKH 6WUXNWXU YHUVWHKW NDQQ VLH DOV *UXQGODJH HLQHU YHUJOHLFKHQGHQ :LVVHQVFKDIW GHU 5HOLJLRQ XQG 0\VWLN GLHQHQ 0DQ NDQQ PLW +LOIH GHV /HEHQVEDXPHV HLQ ,GHHQJHElXGH ]X HLQHP DXV HLQHP Y|OOLJ DQGHUHQ 'HQNV\VWHP VWDPPHQGHQ LQ %H]LHKXQJ VHW]HQXQGVRGLH9LHOIDOWDXIGDV(LQH]XUFNIKUHQ'DVYRUOLH
JHQGH.DSLWHOHQWKlOWQXUHLQHVHKUHOHPHQWDUH(LQIKUXQJLQGLHVH 7KHPDWLN 'HU GRNWULQlUH $VSHNW 'LHVHU EHVWHKW DXV HLQHU P\VWRWKHR ORJLVFKHQ(UOlXWHUXQJHLQLJHUJURHU3UREOHPHGLHGLH0HQVFKKHLW ]X DOOHQ =HLWHQ EHVFKlIWLJW KDEHQ 'LH WUDGLWLRQHOOH .DEEDOD KDW HLQHQ Y|OOLJ HLJHQVWlQGLJHQ 6WDQGSXQNW LFKEH]ZHLIOHDOOHUGLQJV REGLHVHULQGHUKHXWLJHQ:HOWQRFKYRQHUKHEOLFKHU%HGHXWXQJ LVW 'HQQRFK KDQGHOW HV VLFK GDEHL XP HLQH VHKU DXVJHSUlJWH $QVFKDXXQJ GLH PDQ UHVSHNWLHUHQ XQG PLW DQGHUHQ HVRWHULVFKHQ 6\VWHPHQYHUJOHLFKHQVROOWH 'HU WKHXUJLVFKH $VSHNW 'LHVHU $VSHNW LVW DXFK DOV GLH PD JLVFKH RGHU :XQGHU7UDGLWLRQ GHU .DEEDOD EH]HLFKQHW ZRUGHQ 'LHVH LVW VWDUN LQ GHQ HVRWHULVFKHQ hEHUOLHIHUXQJHQ LP =XVDP PHQKDQJ PLW GHP /HEHQVEDXP YHUZXU]HOW ZHOFKHU VHLQHUVHLWV VHLQH :XU]HOQ LP JHKHLPHQ /HEHQ *RWWHV KDW 'LH JHVDPWH 7KHRULH XQG 3UD[LV GLHVHV $VSHNWV GHU .DEEDOD VWHKW LP =XVDP PHQKDQJPLWGHP©3IDGGHU5FNNHKUª ]XU*RWWKHLWYRQZHOFKHU GHU 0HQVFK HQWIUHPGHW ZXUGH 'LH PRGHUQHQ ,QWHUSUHWDWLRQHQ GHU 9HUIDKUHQVZHLVHQ XQG 0HWKRGHQ XQWHUVFKHLGHQ VLFK VWDUN YRQ GHU lOWHUHQXQGVSH]LILVFKMGLVFKHQ$QVFKDXXQJGHU.DEEDODXQGVLQG GLHVHU EHUOHJHQ (V KDQGHOW VLFK GDEHL XP HLQH XQLYHUVHOOHUH XQG HNOHNWLVFKHUH$XIIDVVXQJYRQGHU.DEEDODZHOFKHLKUH:XU]HOQLQ MHQHPPHUNZUGLJHQ3KlQRPHQGHVYHUJDQJHQHQ-DKUKXQGHUWV GHP +HUPHWLF 2UGHU RI WKH *ROGHQ 'DZQ ©+HUPHWLVFKHU 2UGHQ GHU*ROGHQHQ'lPPHUXQJª KDW 'HU H[HJHWLVFKH $VSHNW (LQLJH =HLWJHQRVVHQ GLH GLH KHEUlL VFKH 6SUDFKH QLFKW EHKHUUVFKHQ XQG GLH QLFKW LQ GLHVHQ $VSHNWHQ GHU .DEEDOD JHVFKXOW ZRUGHQ VLQG KDEHQ W|ULFKWHUZHLVH JH VFKULHEHQ GD GLHVH 0HWKRGHQ XQZLFKWLJ VHLHQ 0DQ NDQQ GLH $QVLFKW GLHVHU /HXWH QXU DOV IUHLPWLJHV (LQJHVWlQGQLV LKUHV HL JHQHQ 0DQJHOV DQ (UIDKUXQJ XQG 9HUVWlQGQLVYHUP|JHQ LQWHUSUH WLHUHQ 'HP 1HXOLQJ GHU DXFK QXU HLQH JHULQJH )HUWLJNHLW LQ GHU $QZHQGXQJ GLHVHU 7HFKQLNHQ RGHU LQ GLHVHU $UW GHU ([HJHVH HU ZRUEHQ KDW HU|IIQHQ VLFK SKDQWDVWLVFKH (LQVLFKWHQ ZHOFKH DXI LKUH:HLVHZLFKWLJHP\VWLVFKH(UIDKUXQJHQVLQG 'LHVHUOHW]WH3XQNW GLH5HDOLVDWLRQGDGDV8QLYHUVXPJ|WW :DKUVFKHLQOLFK LVW KLHU 1LYULWWL0DUJD GHU 3IDG GHU 5FNNHKU GHU VSLULWXHOOHQ6HOEVWEHVLQQXQJJHPHLQW$QPGhEHUV
OLHK LVW GHU .|USHU *RWWHV ZHOFKHU LQ VHLQHU 8QHUPHOLFKNHLW MHGHQ 0HQVFKHQ XQG MHGH /HEHQVIRUP HLQVFKOLHW LVW GDV =LHO MHGHU 0\VWLN :HQQ GLH NDEEDOLVWLVFKH 0HWKRGH GLHVHV K|FKVWH XQG OHW]WH =LHO ]X HUUHLFKHQ YHUPDJ VROOWH PDQ EHU LKUH $QZHQ GXQJQLFKWVSRWWHQRGHUDEIlOOLJGDUEHUVSUHFKHQ 'LH]HKQ6HSKLURWK
$OV GDV KHUDXVUDJHQGH 7KHPD GHV /HEHQVEDXPV HQWSXSSW VLFK ZHQQ ZLU HLQPDO DQIDQJHQ XQV LQWHQVLYHU GDPLW ]X EHVFKlIWLJHQ GDV 6\VWHP GHU ]HKQ 6HSKLURWK RGHU J|WWOLFKHQ (PDQDWLRQHQ ZHOFKH LQ GUHL 6lXOHQ JHJOLHGHUW VLQG $XI GHU UHFKWHQ XQGDXIGHU OLQNHQ6lXOHEHILQGHQVLFKMHZHLOVGUHL6HSKLURWKDXIGHUPLWWOHUHQ 6lXOH VLQG HV YLHU 'LH UHFKWH 6lXOH ZLUG DOV 3IHLOHU GHU *QDGH EH]HLFKQHWGLHOLQNHDOV3IHLOHUGHU6WUHQJH VLHHQWVSUHFKHQGHQ EHLGHQ6lXOHQPLWGHQ1DPHQIDFKLQXQG%RDVGLHLQGHU7UDGLWLRQ GHU )UHLPDXUHU HLQH ZLFKWLJH 5ROOH VSLHOHQ (LQH YRQ EHLGHQ LVW PlQQOLFK GLH DQGHUH ZHLEOLFK HLQH LVW SRVLWLY GLH DQGHUH QHJDWLY HLQH LVW ZHL GLH DQGHUH VFKZDU] XQG VR ZHLWHU GDV HZLJH6SLHO GHU *HJHQVlW]H ©'HQNH GDUDQ GD XQDXVJHZRJHQH .UDIW YRQ hEHO LVW GD XQDXVJHZRJHQH 6WUHQJH QLFKWV DQGHUHV DOV *UDXVDPNHLW XQG 8QWHUGUFNXQJ LVW GD DEHU DXFK XQDXVJHZRJHQH *QDGH QLFKWV DQGHUHV DOV 6FKZlFKH LVW GLH GDV %|VH ]XOlW XQG LKP 9RUVFKXEOHLVWHWª 'LH .DEEDOD VSULFKW VLFK DOVR IU HLQHQ PLWWOHUHQ :HJ ]ZLVFKHQ GHQ *HJHQVlW]HQ DXV XQG ZHLVW GDPLW DXI GLH YRQ DOWHUV KHU EH NDQQWH1RWZHQGLJNHLWKLQGLH([WUHPH]XPHLGHQ'LHVH+DOWXQJ ILQGHQZLUDXFKLQGHU3KLORVRSKLHGHU+LQGXVLP%XGGKLVPXVXQG LQ QHXHUHU =HLW DOV HLQHV GHU +DXSW]LHOH GHU -XQJVFKHQ 3V\FKRORJLH 'LH ([WUHPH VLQG HLQVHLWLJH VSLULWXHOOH XQG SV\FKRORJLVFKH +DOWXQJHQ GLH QXU ]XU Y|OOLJHQ =HUVW|UXQJ GHV J|WWOLFKHQ *HLVWHV LP 0HQVFKHQ IKUHQ N|QQHQ 6LH ZHLVHQ DXI GLH 1RWZHQGLJNHLW GHU 9HUHLQLJXQJ GHU *HJHQVlW]H LQ HLQHU QHXHQ XQG K|KHUHQ *DQ]KHLWKLQ 'HU 0LWWOHUH 3IHLOHU RGHU GLH 0LWWOHUH 6lXOH ZLUG GHVKDOE V\P EROLVFK ]XP ©3IDG GHU 5FNNHKUª ]XP 3IDG GHU (UO|VXQJ RGHU %HIUHLXQJ$XIGHQ6WUXNWXUHQGHV*HElXGHVGHU]HKQ6HSKLURWK
XQGGHUGUHL6lXOHQRGHU3IHLOHULVWHLQULHVLJHV6\VWHPVRZRKO HVRWHULVFKHU7KHRULHDOVDXFKPDJLVFKHU3UD[LVHQWVWDQGHQ 'LHYLHU:HOWHQ
0DQ NDQQ GHQ /HEHQVEDXP DXFK XQWHU GHP %OLFNZLQNHO GHU YLHU :HOWHQ EHWUDFKWHQ 'LHVH (EHQHQ VLQG EHNDQQW DOV $W]LOXWKRGHU GLH $UFKHW\SLVFKH :HOW %ULDK RGHU GLH .UHDWLYH :HOW IHW]LUDKRGHU GLH )RUPELOGHQGH :HOW XQG $VVLDKRGHU GLH :HOW GHV +DQGHOQV GLH 0DWHULHOOH :HOW 'LHVH ZLHGHUXP ZHUGHQ GHQ YLHU %XFKVWDEHQ GHVMHQLJHQ J|WWOLFKHQ 1DPHQV ]XJHRUGQHW GHU RIW DOV 7HWUDJUDP PDWRQ EH]HLFKQHW ZLUG ZRPLW GHU YLHUEXFKVWDELJH *RWWHVQDPH <+9+ JHPHLQW LVW 'DPLW LVW QLFKW HLQIDFK QXU GHU -HKRYD GHV $OWHQ 7HVWDPHQWV JHPHLQW GHU HLQH SURYLQ]LHOOH UDVVLVWLVFKH XQG ]LHPOLFK PUULVFKH DOWH 6FKXW]JRWWKHLW JHZHVHQ ]X VHLQ VFKHLQW VRQGHUQ KLHU JHKW HV XP GLH JUXQGOHJHQGH NUHDWLYH .UDIW GHV $LQ 6RSK LQ $NWLRQ GHV 8QHQGOLFKHQ 'HU DOWH 1DPH ZXUGH ]ZDU EHLEHKDOWHQ GRFK KDW HU HLQHQ Y|OOLJ QHXHQ XQG XPIDVVHQGHUHQ ,QKDOWHUKDOWHQ < LVW
:HVWFRWW YHUVLFKHUW ©'HU 0HQVFK LVW LPPHU QRFK GDV (EHQELOG *RWWHV DXI (UGHQ VHLQH )RUP VWHKW LQ %H]LHKXQJ ]XP 7HWUDJUDP PDWRQ-HKRYDV<+9+GHQQLQHLQHP'LDJUDPPVWHKW
(LQHU GHU %XFKVWDEHQ GHV KHEUlLVFKHQ $OSKDEHWVLVW6KLQ,P%XFK GHU (QWVWHKXQJ 6HSKHU -HW]LLDK@ ZLUG GLHVHP %XFKVWDEHQ GDV (OHPHQW )HXHU ]XJHRUGQHW XQG QDFK HLQHU DQGHUHQ PDWKHPDWL VFKHQ %HUHFKQXQJ ZLUG GLHVHU %XFKVWDEH ]XP 6\PERO IU GHQ +HLOLJHQ *HLVW 'LH hEHUOLHIHUXQJ WULWW IU GLH (LQIJXQJ GLHVHV %XFKVWDEHQV LQ GLH 0LWWH GHV VRHEHQ EHVFKULHEHQHQ YLHUEXFKVWD ELJHQ *RWWHVQDPHQV HLQ VR GD GLHVHU LQ ]ZHL JOHLFKH 7HLOH JHWHLOW ZLUG XQG GLH %XFKVWDEHQIROJH <+VK9+ HQWVWHKW GDV 3HQWDJUDP PDWRQ RGHU GHU IQIEXFKVWDELJH 1DPH 'LHVH %XFKVWDEHQNRP ELQDWLRQ UHSUlVHQWLHUW GLH ,OOXPLQDWLRQ GHV HOHPHQWDUHQ RGHU QD WUOLFKHQ 0HQVFKHQ GXUFK GDV +LQDEVWHLJHQ XQG GHQ (LQIOX GHV +HLOLJHQ *HLVWHV 6R HQWVWDQGHQ UHSUlVHQWLHUW GLHVHU 1DPH GHQ *RWW0HQVFKHQ ZHOFKHU LP &KULVWHQWXP GXUFK &KULVWXV V\PER OLVLHUW ZLUG GHU LQ GHQ 0HQVFKHQ -HVXV KLQDEVWLHJ 1DFK GLHVHU 6\PEROLN YHUN|USHUW -HVXV GHQ QDWUOLFKHQ 0HQVFKHQ GHU GXUFK +LQJDEH 0HGLWDWLRQ XQG GHQ WKHXUJLVFKHQ 3UR]H VHLQH PHQVFKOLFKH 1DWXU GHP VWUDKOHQGHQ *ODQ] GHV DXI LKQ KLQDENRP PHQGHQ/LFKWHV|IIQHWH 'LHVH (UOHXFKWXQJ LVW HV GLH DOOH 0HQVFKHQ ]X LUJHQGHLQHP IHUQHQ =HLWSXQNW GHU PHQVFKOLFKHQ (YROXWLRQ EHVWLPPXQJVJHPl HUOHEHQ ZHUGHQ 'LHV LVW HV ZDV GHQ 0HQVFKHQ DOV 0HQVFKHQ YRP *RWW0HQVFKHQ XQWHUVFKHLGHW XQG WUHQQW MHQHV =LHO DOOHU 0\VWLN $OOH P\VWLVFKHQ 0HWKRGHQ HLQVFKOLHOLFK GHUMHQLJHQ GHU .DEEDOD GLHQHQ GHU %HVFKOHXQLJXQJ GHV ODQJZLHULJHQ 3UR]HVVHV GHU PHQVFKOLFKHQ (YROXWLRQ DXI GD ZLU GLH %HZXWVHLQV]XVWlQGH GLH ZLH PDQ XQV LPPHU ZLHGHU YHUVLFKHUW OHW]WOLFK GLH JDQ]H 0HQVFKKHLW LUJHQGZDQQ HLQPDO HUUHLFKHQ ZHUGHQ VFKRQ KHXWH HUUHLFKHQN|QQHQ 'LH ]HKQ .DWHJRULHQ RGHU ©'DWHLHQª GHV /HEHQVEDXPV VLQG GHU YLHOIlOWLJH$XVGUXFNGHU*RWWKHLWYHUVWDQGHQDOVGLHNUHDWLYH.UDIW
GHV 8UVSUQJOLFKHQ /LFKWV 'LHV ZLUG DOV $LQ 6RSKEH]HLFKQHW GDV 8QHQGOLFKHZHOFKHVDOVGHUDEVROXWHXQEHNDQQWHXQGXQNHQQEDUH J|WWOLFKH *UXQG GHV 6HLQV GLHQW $XV GLHVHP 1LFKW6HLQ HQWVWHKW GLH 6FK|SIXQJ 6FK|SIXQJ LQ XQG YRQ 6HLQHU (VVHQ] GLH QXU LQ XQVHUHQ $XJHQ LQ YHUVFKLHGHQHQ *UDGHQ GHU .ODUKHLW RGHU 8QYHUVWlQGOLFKNHLW KHUDE XQG KLQDXIVWHLJW ZDV VFKOLHOLFK ]XP (UVFKHLQHQ MHQHU XQWHUVFKLHGOLFKHQ (PDQDWLRQHQ IKUW GLH DOV GLH 6HSKLURWKEH]HLFKQHWZHUGHQ hEULJHQV LVW GDV :RUW 6HSKLURWKGLH ZHLEOLFKH 3OXUDOIRUP GHV :RUWHV 6HSKLUDK,P %XFK GHU (QWVWHKXQJZLUG GDV :RUW 6HSKLURWK JHOHJHQWOLFK DOV ©=DKOHQª ©%XFKVWDEHQª XQG ©.OlQJHª EHUVHW]W 'LH 6FK|SIXQJ ZLUG DOV $NW J|WWOLFKHU 0DJLH YHUVWDQGHQ ZHOFKHU GXUFK 9HUZHQGXQJ GHU %XFKVWDEHQ GHV KHEUlLVFKHQ $OSKDEHWV V\PEROLVLHUW ZLUG 'LHVH %XFKVWDEHQ VLQG NHLQH EORHQ 6\PEROH IU PDJLVFKH .UlIWH VRQGHUQ VLH VLQG GLH NUHDWLYHQ .UlIWH GHV 8QLYHUVXPV 'LHVH $QQDKPH OLHJW DOOHQ PDJLVFKHQ 5LWXDOHQ XQG DOOHQ WKHXUJLVFKHQ 3UR]HVVHQ ]XJUXQGH ,Q HLQHP GHU 5LWXDOH GHV *ROGHQ 'DZQ KHLW HV ©'XUFK 1DPHQ XQG 5LWXDOH ZHUGHQ DOOH 0lFKWH JHZHFNW XQG ZLHGHUHUZHFNWª (LQH ULWXHOOH +DQGOXQJ UH SUlVHQWLHUW QLFKW QXU V\PEROLVFK GDV J|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
'LH HUVWH 6HSKLUDKLVW.HWKHUGLH.URQH XQGVLHUHSUlVHQWLHUWHLQH .RQ]HQWUDWLRQ YRQ /LFKW(QHUJLH LQ GHU 8QHQGOLFKNHLW YRQ$LQ 6RSK 1DFK GHU NDEEDOLVWLVFKHQ 7KHRULH JLQJ YRP 8QHQGOLFKHQ /LFKWGHUNUHDWLYH,PSXOVLQHLQHP%OLW]YRQVWUDKOHQGHP/LFKWDXV
6RKDU` 'LHV VHW]WH GLH NUHDWLYHQ .UlIWH GHV 8QHQGOLFKHQ IUHL ZRGXUFK HLQ 3XQNW RGHU )RNXV GHU IDFHWWHQUHLFKHQ 3RWHQWLDOLWlW XQG (QWZLFNOXQJ HQWVWDQG .HWKHU ZLUG QLFKW QXU DOV .URQH EH ]HLFKQHW VRQGHUQ DXFK DOV 8USXQNW UXKLJHU 3XQNW DOV 0DFUR SURVRSXV RGHU *URHV $QJHVLFKW XQG ZLUG PLW QRFK YLHOHQ DQGHUHQ 6\PEROELOGHUQ XQG 1DPHQ EH]HLFKQHW .HWKHU LVW GLH HUVWH RGHU HU|IIQHQGH6HSKLUDKGHV/HEHQVEDXPHV ,QDQGHUHQ0\WKRORJLHQZLUG.HWKHUUHSUlVHQWLHUWGXUFK$PRXQ ©GDV 9HUERUJHQHª XQG ©GHU (U|IIQHU GHV 7DJHVª VRZLH GXUFK 3WDKGHUJ|WWOLFKH7|SIHUGHUDXIVHLQHUURWLHUHQGHQ7|SIHUVFKHLEH DOOH 'LQJH IRUPW (LQH GHU YLHOHQ =XVFKUHLEXQJHQ YRQ .HWKHU LVW 5HVKLW KD *LOJXOLP GLH HUVWH %HZHJXQJ RGHU 'UHKXQJ P|JOLFKHUZHLVH HLQ +LQZHLV DXI GLH HUVWHQ %HZHJXQJHQ GHU 6SL UDOQHEHO $OOH $QIlQJH DOOH 6DPHQ YRQ DOOHQ 'LQJHQ GLH GXUFK (LQV UHSUlVHQWLHUW ZHUGHQ KDEHQ LQ GLHVHP 7HLO GHU NDEEDOLVWL VFKHQ 5HJLVWUDWXU LKUHQ 3ODW] (LQHU GHU ZLUNOLFK JURHQ REJOHLFK XQEHNDQQWHUHQ DPHULNDQLVFKHQ /HKUHU GHV 2NNXOWLVPXV GHILQLHUW .HWKHU DOV ©'LH 0DFKW EHZXW ]X VHLQª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lO]XQJHQDXIGHU(UGH DOOGLHVEHUVWHLJWGLH VSLULWXHOOHQ (UIDKUXQJHQ GHU PHLVWHQ DQGHUHQ ELEOLVFKHQ 3HU V|QOLFKNHLWHQ EHL ZHLWHP XQG GHU .DEEDLLVW YHUVWHKW GLHV DOV HLQH HFKWH gIIQXQJ LQ K|KHUH %HUHLFKH HLQH (QWKOOXQJ GHU LQQHUVWHQ XQG XQHUJUQGOLFKVWHQ *HKHLPQLVVH GLH LQ GHU QHX HQWKOOWHQ %H]LHKXQJ ]ZLVFKHQ 0HQVFK XQG *RWW YHUERUJHQ ODJHQ 'LHV LVW VWHWVDOVHLQH$UWJ|WWOLFKHU6HOEVWRIIHQEDUXQJLQWHUSUHWLHUWZRUGHQ DOVHLQHXQEHVFKUHLEOLFKHP\VWLVFKH(UIDKUXQJK|FKVWHQ
*UDGHV'LH.DEEDOLVWHQ JODXEWHQ GD EHL GLHVHP $QODGDV7RU ]XP -HQVHLWV ZHLW JH|IIQHW ZRUGHQ VHL VR GD HLQ LQ DQJHPHVVHQHU :HLVH YRUEHUHLWHWHU 0HQVFK DXI GLH GLUHNWH (LQODGXQJ *RWWHV KLQ ZLH DXI HLQHP IODPPHQGHQ 3HJDVXV XQG :DJHQ ]XP JHKHLPHQ VSLULWXHOOHQ /HEHQ DXIVWHLJHQN|QQHXQGGDPLWGDVHUUHLFKWZRUXP HUVLFKVRODQJHEHPKWKDWWH 'HU:DJHQGLH0HUNDEDK ZDUVRPLWHLQ ©P\VWLVFKHU:HJªGHU]X GHQ ZDKUHQ +|KHQ GHV /HEHQVEDXPHV IKUWH ]XU .URQH DOOHQ 6HLQV 'LH 0HUNDEDKJDOW DOV HLQ )DKU]HXJ GDV GHQ .DEEDOLVWHQ XQPLWWHOEDU ]X HLQHU %HJHJQXQJ YRQ $QJHVLFKW ]X $QJHVLFKW PLW VHLQHU HLJHQHQ K|FKVWHQ *|WWOLFKNHLW ]X EULQJHQ YHUPRFKWH 'HVKDOE ZDU HV GDV =LHO GHV 0\VWLNHUV HLQ ©0HUNDEDKIDKUHLª]X ZHUGHQ DXI GD HV LKP P|JOLFK ZUGH QRFK LQ VHLQHU LQNDUQLHUWHQ )RUP DOV PHQVFKOLFKHV :HVHQ LQ VHLQ VSLULWXHOOHV (O 'RUDGR DXI ]XVWHLJHQ 6RPLW LVW GLH %HGHXWXQJ DOOHU ©:DJHQª RGHU )DKU]HXJ 6\PEROHGLH(UOHXFKWXQJ &KRNPDK
&KRNPDKRGHU:HLVKHLWLVWGHU1DPHGHU]ZHLWHQ(PDQDWLRQRGHU 0DQLIHVWDWLRQ 9RU DOOHQ DQGHUHQ 5HSUlVHQWDWLRQHQ GHU SULPlUHQ 'XDOLWlWZLUGVLHDOV9DWHUVFKDIW0lQQOLFKNHLW:HLVKHLWSRVLWLYHU 3RO YHUVWDQGHQ DOOH GLHVH $VVR]LDWLRQHQ ZHUGHQ &KRNPDK ]XJHRUGQHW -HGHU 6HSKLUDK VLQG (U]HQJHO XQG (QJHO ]XJHRUGQHW GLH XQWHUVFKLHGOLFKH )RUPHQ RGHU $UWHQ GHU J|WWOLFKHQ 6FK|S IXQJVNUDIWXQG$EVLFKWGDUVWHOOHQ 'HU LP $OWHQ 7HVWDPHQW EHQXW]WH *RWWHVQDPH LVW DQJHEOLFK
% ©,Q 5HVKLW ©GHU$QIDQJª %DUD ©VFKXIª (ORKLP *RWW*HQDXJHQRPPHQEHGHXWHWGDV:RUW (O*RWW(ORKZlUH HLQZHLEOLFKHU*RWWZHLOGLH(QGVLOEH RKGDVZHLEOLFKH*HVFKOHFKW DQ]HLJW'DV]ZHLWH6XIIL[LPLVWHLQHPDVNXOLQH3OXUDOIRUP,P:RUW 6HSKLURWKEHLVSLHOVZHLVHUHSUlVHQWLHUWGDV6XIIL[ RWKGLHZHLEOLFKH 3OXUDOIRUP
'HUHUVWH%XFKVWDEH GHU %LEHO LVW GHVKDOE GDV % %HWKXQGHVLVW DXHUGHP DXFK GHU HUVWH %XFKVWDEH GHV ]ZHLWHQ :RUWHV EDLD VFKDIIHQ 'HU LP 6RKDU EHUOLHIHUWH 0\WKRV EHVFKlIWLJW VLFK PLW GHQ KH EUlLVFKHQ %XFKVWDEHQ DOV :HVHQ RGHU 3HUVRQLILNDWLRQHQ GHU VFK|SIHULVFKHQ .UlIWH GLH QDFKHLQDQGHU YRU *RWW HUVFKHLQHQ XQG XP GDV 3ULYLOHJ ELWWHQ DOV HUVWH GHQ 3UR]H GHU 6FK|SIXQJ EH VFKUHLEHQ ]X GUIHQ ©$OV GHU +HLOLJH JHVHJQHW VHL (U VLFK DQVFKLFNWH GLH :HOW ]X HUVFKDIIHQ EHIDQGHQ VLFK DOOH %XFKVWDEHQ GHV $OSKDEHWV QRFK LP =XVWDQG GHU (QWVWHKXQJ $OV HU DQILQJ GLH :HOW ]X HUVFKDIIHQ WUDWHQ DOOH %XFKVWDEHQ LQ XPJHNHKUWHU 5HLKHQ IROJHYRU,KQKLQª 1DFKHLQDQGHU EHVFKULHEHQ VLH ZDUXP VLH XQGQXUVLH DXVHUZlKOW ZHUGHQ VROOWHQ XQG HV ZHUGHQ DXFK MHZHLOV GLH $UJXPHQWH YRU JHWUDJHQ ZHVKDOE LKQHQ GLHVHV 3ULYLOHJ YRUHQWKDOWHQ EOHLEHQ PXWH 6FKOLHOLFKWULWWGHU%XFKVWDEH%KHEUlLVFK%HWK DXIXQGVDJW ©2K +HUUGHU:HOWP|JHHVGLUJHIDOOHQPLFKDQGLH6SLW]HGHU 6FK|SIXQJ GHU :HOW ]X VWHOOHQ ZHLO LFK GLH 6HJHQVZQVFKH EHU DFKRWK EHUPLWWOH GLH 'LU YRQ KRFK XQG QLHGULJ GDUJHERWHQ ZHUGHQ 'HU +HLOLJH JHVHJQHW VHL (U DQWZRUWHWH GDUDXIKLQ *HZL ZHUGH LFK GXUFK GLFK GLH :HOW HUVFKDIIHQ XQG GX VROOVW EHL GHU(UVFKDIIXQJGHU:HOWGHQ$QIDQJELOGHQª 'LHVHV JDQ]H 6SLHO PLW :|UWHUQ XQG%XFKVWDEHQ GLHQW OHW]WOLFK GD]X GDV IU GHQ 0HQVFKHQ VR ZLFKWLJH .RQ]HSW GHU *WH XQG GHV 6HJHQV GHU VFK|SIHULVFKHQ .UDIW KHUYRU]XKHEHQ )U GLH 0HQVFKHQ GHU )UK]HLW ZlUH HV VHKU VFKZLHULJ JHZHVHQ RKQH GLHVHQ *ODXEHQ ]XOHEHQ
(LQHDXVIKUOLFKH9HUVLRQGLHVHV0\WKRVLVWLQ5HJDUGLHV:HUN'DV PDJLVFKH6\VWHPGHV*ROGHQ'DZQ %G,6]XILQGHQ
6R NDP HV GD GHU %XFKVWDEH%HWK GHQ ELEOLVFKHQ 6FK|SIXQJV EHULFKWHU|IIQHW:HQQZLUQXQGLHYHUJOHLFKHQGH0HWKRGHEHQXW]HQ GHUHQ $QZHQGXQJ XQV XQVHUH NDEEDOLVWLVFKH 5HJLVWUDWXU HU P|JOLFKW VWHOOHQ ZLU IHVW GD GHP KHEUlLVFKHQ %XFKVWDEHQ GLH =DKO XQG LP6HSKHU -HW]LUDK GHU 3ODQHW0HUNXU ]XJHRUGQHW LVW DXHUGHP GHU *RWW +HUPHV ZHOFKHU HLQH QLHGHUH )RUP GHV lJ\SWLVFKHQ 7KRWK LVW GHV *RWWHV ©GHU :HLVKHLW XQG GHV $XV GUXFNV GHU *RWW GHU DXV GHU 9HUVFKOHLHUXQJ KHUYRUWULWWª 7KRWK VROO GLH PDJLVFKHQ :RUWH DXVJHVSURFKHQ KDEHQ GXUFK ZHOFKH GLH JDQ]H 9LHOIDOW GHU 6FK|SIXQJ HQWVWDQG 'LH EHVRQGHUH (LQOHLWXQJ LP =5LWXDO GHV *ROGHQ 'DZQ HQWKlOW GLH IROJHQGH ZLFKWLJH 3DVVDJH ©$P(QGHGHU1DFKW $QGHQ*UHQ]HQGHV/LFKWV 7KRWKVWDQGYRUGHQ8QJHERUHQHQGHU=HLW 'DQQZXUGHGDV8QLYHUVXPJHELOGHW 'DQQWUDWHQVHLQH*|WWHUKHUYRU 'LHbRQHQGHVXQJHERUHQHQ-HQVHLWV 'DQQZXUGHGLH6WLPPHYLEULHUW 'DQQZXUGHGHU1DPHHUNOlUW $QGHU6FKZHOOHGHV(LQWUHWHQV =ZLVFKHQGHP8QLYHUVXPXQGGHP8QHQGOLFKHQ 6WDQG7KRWKLP=HLFKHQGHV(LQWUHWHQGHQ $OVGLHbRQHQYRULKPDXIJHUXIHQZXUGHQ (UYLEULHUWHVLHLQVHLQHP$WHP (U]HLFKQHWHVLHLQ6\PEROHQDXI 'HQQHUVWDQG]ZLVFKHQGHP/LFKWXQGGHU)LQVWHUQLV ª
(VLVWGHU0KHZHUWEHUGLHVH3DVVDJHDXVGHQ/HKUHQGHV*ROGHQ 'DZQLQWHQVLY]XPHGLWLHUHQ0DQVROOWHVLHLQGHU0HGLWDWLRQ]X GHUIROJHQGHQ,GHHDXV'LRQ)RUWXQHV%XFK'LHP\VWLVFKH.DEEDODLQ %H]LHKXQJVHW]HQ ©:HQQ ZLU PLW &KRNPDK .RQWDNW DXIQHKPHQ ZROOHQ PVVHQ ZLU GHQ 6FKZDOOG\QDPLVFKHU(QHUJLHLQVHLQHU5HLQIRUPHUIDKUHQHLQHU(QHU JLH GLHVRJHZDOWLJLVWGDGHU1RUPDOVWHUEOLFKHYRQLKULQ6WFNHJHULVVHQ ZLUG(VKHLWGD6HOHPHGLH0XWWHUYRQ'LRQ\VRV=HXV
,VUDHO5HJDUGLH'DVPDJLVFKH6\VWHPGHV*ROGHQ'DZQ %G,,6
LKUHQ J|WWOLFKHQ /LHEKDEHU DOV 'RQQHUJRWW HUOHEWH XQG YRQ GLHVHU(U IDKUXQJ LQ 6WFNH JHULVVHQ XQG YHUEUDQQW ZXUGH XQG GHVZHJHQ LKUHQ J|WWOLFKHQ 6RKQ ]X IUK ]XU :HOW EUDFKWH 'LH VSLULWXHOOH (UIDKUXQJ &KRNPDK LVW GLH 9LVLRQ *RWWHV YRQ $QJHVLFKW ]X $QJHVLFKW 8QG *RWW -HKRYD VDJWH ]X 0RVHV 'XNDQQVWQLFKWPHLQ *HVLFKWVFKDXHQXQG OHEHQª
2EZRKO GHU $QEOLFN *RWWYDWHUV GHQ 6WHUEOLFKHQ ZLH HLQ )HXHUVWUDKO WULIIW NRPPW GHU 6RKQ *RWWHV DOV HLQHU YRQ XQV LQ XQVHUH 0LWWH XQG NDQQ GXUFK HQWVSUHFKHQGH 5LWHQ DQJHUXIHQ ZHUGHQ GXUFK %DFFKDQDOLD ZHQQ HV XP GHQ 6RKQ =HXV JHKW XQG GXUFK GDV (XFKDULVWLVFKH )HVW EHLP 6RKQ -HKRYDV 'DUDQ VHKHQ ZLU GD HV HLQH QLHGHUH )RUP GHU 0DQLIHVWDWLRQ JLEW GLH XQV GHQ 9DWHU ]HLJW! 'HU 5LWXV YHUGDQNW VHLQ )XQNWLRQLHUHQ MHGRFK DOOHLQ GHU 7DWVDFKH GD VHLQH HUOHXFKWHWH ,QWHO OLJHQ] VHLQ LQQHUHV *HZDQG GHU 9HUNOlUXQJ YRP 9DWHU &KRNPDK KHUUKUWª %LQDK
%LQDK9HUVWHKHQ LVW GLH GULWWH 6HSKLUDK 6LH LVW ZHLEOLFK XQG LQ GHU 3RODULWlW QHJDWLY ,KU ZLUG XQWHU DQGHUHP GLH 6KHNLQDK]XJHRUGQHW HLQ 6\PERO IU GHQ +HLOLJHQ *HLVW 'LHV LVW HLQ IDV]LQLHUHQGHU ,GHHQNRPSOH[ GD HU GHP MGLVFKHQ 'HQNHQ HQWVSUXQJHQ LVW ZHOFKHV LQ VHLQHP 0RQRWKHLVPXV PDVNXOLQ RULHQWLHUW LVW RKQH MHGH 6SXU HLQHV IHPLQLQHQ (LQIOXVVHV 'LH HLQ]LJH $XVQDKPH LVW P|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lWHU LKU *HJHQWHLO KHUDXI EHVFKZ|UHQRGHULQGLHVHV*HJHQWHLOXPVFKODJHQPX'LHVHQW 'LRQ)RUWXQH'LHP\VWLVFKH.DEEDOD 6I
VSULFKWGHUWDRLVWLVFKHQ,GHHGDGLH*HJHQVlW]H
&URZOH\KDWGLHVH6HSKLUDKPLW©/DG\ %DEDORQªGHU'DPH%DE\ORQ YHUJOLFKHQ GHU 0XWWHU DOOHU 8Q]XFKW XQG REZRKO HV LP HUVWHQ $XJHQEOLFNPHUNZUGLJNOLQJHQPDJVWLPPWGLHVY|OOLJPLWGHP |VWOLFKHQ .RQ]HSW YRQ .DOL EHUHLQ GHU +HUULQ EHU /HEHQ XQG 7RG GHU *HOLHEWHQ MHGHV 0DQQHV GLH ]X XQHQGOLFK YLHOHQ =HXJXQJHQIlKLJLVW5DPDNULVKQDV9HUHKUXQJIU.DOLGLHJ|WWOLFKH 0XWWHULVWHLQKHUYRUVWHFKHQGHV%HLVSLHOKLHUIU 'LHVH GUHL 6HSKLURWK ZHUGHQ RIW DOV GLH GUHL hEHULUGLVFKHQEH ]HLFKQHW GLHMHQLJHQ GLH ZHLW YRQ GHQ )XQNWLRQHQ XQG 2SHUD WLRQHQ GHU EULJHQ %HUHLFKH GHV /HEHQVEDXPHV HQWIHUQW VLQG XQG VLH WUDQV]HQGLHUHQ $OV *HVDPWKHLW ZHUGHQ GLHVH GUHL 6HSKLURWKDOV $LPDK (ORKLUQ EH]HLFKQHW GLH 0XWWHU GHU *|WWHU ZHOFKHU LP 9HGDQWD GLH GUHL (LJHQVFKDIWHQ 6DW&KLW$QDQGD 6HLQ :HLVKHLW XQG (NVWDVH Z|UWOLFK 6HLQ %HZXWVHLQ 6HOLJNHLW ]XJHVFKULHEHQ ZHUGHQ /HW]WHUHQ HQWJHJHQJHVHW]W VLQG GLH EXGGKLVWLVFKHQ %H JULIIH $QDWWD $QLFFDXQG 'XNNKD 1LFKW:HVHQKDIWLJNHLW 8Q EHVWlQGLJNHLW XQG /HLGHQ 3DUDGR[HUZHLVH VLQG GLHVH *HJHQVlW]H LPWUDQV]HQGHQWHQ%HUHLFKGHV/HEHQVEDXPHVLGHQWLVFK 'HQ %HUHLFK GHU J|WWOLFKHQ 7UDQV]HQGHQ] WUHQQW DQJHEOLFK YRQ GHQ EULJHQ YHUWUDXWHUHQ XQG OHLFKWHU ]XJlQJOLFKHQ XQG EHJUHLI EDUHQ $VSHNWHQ GHV /HEHQVEDXPHV HLQH WLHIH 6FKOXFKW HLQ $E JUXQG GHU VLFK ]ZLVFKHQ GHP 1RXPHQRQ GHP PLW GHP *HLVW ]X (UNHQQHQGHQ XQG GHP 3KlQRPHQRQ GHP (UVFKHLQHQGHQ DXIWXW XQG GHQ GHU 0HQVFK QLFKW ]X EHUZLQGHQ YHUPDJ 6RODQJH HU HLQ 0HQVFK EOHLEW GHU LQ VHLQHU SULYDWHQ :HOW GHV 9HUVWDQGHV XQG GHU NRQNUHWHQ (UHLJQLVVH JHEXQGHQ LVW VLQG GLH GUHL hEHULUGLVFKHQIU LKQ DEVWUDNWH XQHUUHLFKEDUH .RQ]HSWH (UVW GXUFK GLH )DKUW DXI GHU 0HUNDEDK RGHU GXUFK P\VWLVFKH (UIDKUXQJHQ LQIROJH GHU =HUVW| UXQJ YRQ $KDPNDUD GHU ,FKVFKDIIHQGHQ .UDIW NDQQ GHU $EJUXQG EHUZXQGHQ ZHUGHQ 'LH 7UDGLWLRQ LVW LQ GLHVHP 3XQNW VR NRPSOH[ XQG VR DEVWUDNW GD ZLU XQV IU GHQ $XJHQEOLFN PLW GHQ RELJHQ+LQZHLVHQEHJQJHQPVVHQ 'LH SODQHWDUH =XRUGQXQJ LVW 6DWXUQ 6WDELOLWlW XQG )RUP )RUP GLH (QHUJLH ELQGHW VR ZLH QDFK GHP 6DQNK\D6\VWHP YRQ .DSLOD 3XUXVKDGDV 6HOEVW RGHU GDV $EVROXWH LQ 3UDNULWLGLH 8UPDWHULH YHUN|USHUW LVW 'HU (U]HQJHO GLHVHU 6HSKLURWK LVW QLFKWV DQGHUHV DOV GHU KHEUlLVFKH 1DPH IU 6DWXUQ 6KDEEDWDLZHOFKHP GDV 6XIIL[ HO DQJHKlQJW ZLUG ]XPLQGHVW QDFK GHP 6LJLOOXP 'HL $HPHWKGHV 6\VWHPVYRQ'HHXQG.HOOH\'HU*RWWHVQDPHLVW<+9+(ORKLP
HLQH 9HUELQGXQJ GHV 7HWUDJUDPPDWRQV PLW GHP PlQQOLFKHQ 3OXUDO HLQHUZHLEOLFKHQ*RWWKHLW 'LH GULWWH 6HSKLUDK LVW DPELYDOHQW RGHU YLHOPHKU DOV HFKWHV 6\PERO ELSRODU ,Q GHU EOXPLJHQ 6\PEROVSUDFKH &URZOH\V LVW %L QDKGLH 6WDGW GHU 3\UDPLGHQ XQWHU GHU 1DFKW GHV 3DQ LQ ZHOFKHU GHU $GHSW QDFKGHP HU DOV HUIROJUHLFKHU /HQNHU GHU 0HUNDEDKGHQ $EJUXQG EHUZXQGHQ XQG DXI GLHVH :HLVH VHLQ ,FK YHUQLFKWHW KDW HLQ.LQGGHV$EJUXQGHVZLUGGDVYRQ/DG\%DEDORQJHVWLOOWZLUG $OV HLQHQ OHW]WHQ .RPPHQWDU ]X %LQDKP|FKWH LFK HLQHQ NXU]HQ $EVFKQLWW DXV 'LRQ )RUWXQHV EHUHLWV ZHLWHU REHQ ]LWLHUWHP %XFK DQIKUHQGHUPLUDQGLHVHU6WHOOHSDVVHQGHUVFKHLQW ©'LH H[SDQVLYH .UDIW GLH GXUFK GDV 9HUEUHQQHQ GHV %HQ]LQV HU]HXJW ZXUGHLVW]ZDU(QHUJLHLQ5HLQIRUPDEHUGHQQRFKNDQQVLHNHLQH:DJHQ DQWUHLEHQ'LHLQ%DKQHQOHQNHQGH2UJDQLVDWLRQ %LQDKV N|QQWH]ZDUDOV $QWULHE HLQHV $XWRV GLHQHQ DEHU VLH PX HUVW GXUFK GLH $XVGHKQXQJ GHU JHVSHLFKHUWHQ (QHUJLH LQ $NWLRQ YHUVHW]W ZHUGHQ %LQDK WUlJW ]ZDU GDV 3RWHQWLDOLQVLFKLVWDEHULQDNWLY &KRNPDK LVWUHLQH(QHUJLHJUHQ]HQORV XQGXQHUPGOLFKDEHUXQIlKLJHWZDVDQGHUHV]XWXQDOVGLHVH(QHUJLH LQ GHQ 5DXP DE]XVWUDKOHQ ZHQQ VLH VLFK VHOEVW EHUODVVHQ EOHLEW :HQQ &KRNPDKMHGRFKDXI%LQDKHLQZLUNWZLUGGLH(QHUJLHJHVDPPHOWXQGLQ %HZHJXQJYHUVHW]W:HQQ%LQDKYRQ&KRNPDKGHQ,PSXOVHUKlOWZLUG LKU ODWHQWHV3RWHQWLDO DNWLYLHUW .XU] JHVDJWVWHOOW &KRNPDK GLH(QHUJLH XQG%LQDKGLH0DVFKLQHULHGDUª
&KHVHG
&KHVHGLVW GLH QlFKVWH 6HSKLUDK 'DV KHEUlLVFKH :RUW EHGHXWHW ©*QDGHª $OOH PLW GHU =DKO YHUEXQGHQHQ %HGHXWXQJHQ ILQGHQ LQ GLHVHU'DWHLGHUNDEEDOLVWLVFKHQ5HJLVWUDWXULKUHQ3ODW] 'LH DVWURORJLVFKH =XRUGQXQJ LVW -XSLWHU ZRYRQ VLFK GLH 9HUELQ GXQJ GLHVHU 6HSKLUDK PLW ,GHHQ ZLH $XWRULWlW )RUP *HVHW] hEHUIOX XQG *URPXW KHUOHLWHW XQG VFKOLHOLFK 2UGQXQJ LP |VWOLFKHQ 6LQQH YRQ 'KDUPD GLH 5HFKWPlLJNHLW GHU 'LQJH GHU ULFKWLJH :HJ $XHUGHP LVW &KHVHG GHU lJ\SWLVFKH *RWW 0DDW ]XJHRUGQHWGHUGLH)HGHUGHU:DKUKHLWVFKZLQJW
'LRQ)RUWXQHDD26I
'DV PDJLVFKH 6\PERO RGHU %LOG GLHVHU 6HSKLUDK LVW GDV HLQHV JHNU|QWHQ XQG PlFKWLJHQ .|QLJV GHU DXI HLQHP 3RGHVW WKURQW XQG GHU SRPS|V LQ 3XUSXU XQG .|QLJVEODX JHNOHLGHW LVW )DUEHQ GLH PLW VHLQHP N|QLJOLFKHQ 6WDWXV DVVR]LLHUW ZHUGHQ (U WUlJW GLH ,QVLJQLHQ MXSLWHULVFKHU $XWRULWlW GHQ 5HLFKVDSIHO XQG GHQ .UXPPVWDE %HL HLQLJHQ lJ\SWLVFKHQ *RWWHVIRUPHQ ZHLVW GHU.UXPPVWDE ]XUOLQNHQ 6FKXOWHU GLH &KHVHG]XJHRUGQHW ZLUG ZlKUHQG GHU 'UHVFKIOHJHO RGHU GLH 3HLWVFKH DXI GLH UHFKWH 6FKXOWHU GHXWHW DXI *HEXUDK'HU .UXPPVWDE LVW GHU +LUWHQVWDE GHU *QDGH HLQ +LQZHLV DXI +LOIH DXIGHUVSLULWXHOOHQ(EHQH ,P JOHLFKHQ =XVDPPHQKDQJ LVW DXFK GLH =XRUGQXQJ GHV =HXV ]X YHUVWHKHQ GHV *RWWHV GHVVHQ $XWRULWlW 0DFKW XQG (QHUJLH VR XQJHKHXHU LVW GD HU *HZLWWHU XQG 6WXUP EHKHUUVFKW XQG GHQ %OLW]VWUDKOVFKOHXGHUQNDQQ &KHVHGVWHKW DOVR IU $XWRULWlW XQG J|WWOLFKH )KUXQJ GLH 2UG QXQJ DXV GHP &KDRV HUVFKDIIW DEHU DXFK LQQHUKDOE JHZLVVHU *UHQ]HQ )UHLKHLW ]XOlW 'LRQ )RUWXQH VFKULHE PLW JURHP 6FKDUI EOLFN
0DQNDQQ)UHLKHLWDXFKDOVGDV5HFKWGHILQLHUHQVHLQHQ0HLVWHUVHOEVW ]X ZlKOHQGHQQRKQHHLQHQ)KUHU HQGHWMHGHV/HEHQLQHLQHU*HPHLQ VFKDIW LP&KDRV'LH:HOWEUDXFKWLP0RPHQWIlKLJHXQGPLWUHLHQGH )KUHU XQG HLQ /DQG QDFK GHP DQGHUHQ VXFKW VLFK HLQH 3HUVRQ GLH VHLQHP QDWLRQDOHQ ,GHDO DP HKHVWHQ HQWVSULFKW XQG VWHKW GDQQ KLQWHU GLHVHP )KUHUZLHHLQ0DQQ'HUJOWLJHRUJDQLVLHUHQGHXQGRUGQHQGH (LQIOX -XSLWHUV LVW GLH HLQ]LJ ULFKWLJH 0HGL]LQ IU GLH .UDQNKHLW GHU :HOW :HQQ GLHVHU (LQIOX ]XP 7UDJHQ NRPPW ZHUGHQ GLH 0HQVFKHQ LKU HPRWLRQDOHV *OHLFKJHZLFKW XQG LKUH SK\VLVFKH *HVXQGKHLW ZLH GHUILQGHQª
'LHGLHVHU6SKlUH]XJHRUGQHWHJHRPHWULVFKH)RUPLVWGDV4XDGUDW ZDV DQ GLH 0RUDOULFKWOLQLH GHU )UHLPDXUHU HULQQHUW QDFK GHU PDQ ªDXI GHP 4XDGUDW VHLQª DXIULFKWLJ VHLQ VROO DXFK GDV LVW'KDUPD 'DV &KHVHG HQWVSUHFKHQGH DUFKHW\SLVFKH 6\PERO LVW ZDKU VFKHLQOLFKGHU©:HLVH$OWHª 'DV (OHPHQW LVW :DVVHU ZHOFKHV YRQ%LQDK DEZlUWV UHIOHNWLHUW ZLUG,FKPXKLHUDQPHUNHQGDMHGH6HSKLUDKHLQHIDV]LQLHUHQGH .RPELQDWLRQYRQPlQQOLFKHQXQGZHLEOLFKHQSRVLWLYHQXQGQH ')RUWXQHDD26
JDWLYHQ 6\PEROHQ LVW GLH VLFK LQ HLQHP =XVWDQG GHV *OHLFKJH ZLFKWVEHILQGHQ $QGHUH %H]HLFKQXQJHQ IU &KHVHGVLQG *HGXODK *U|H RGHU 0DMHVWlW XQG 5DFKDPRQ *QDGH 'HU &KHVHG ]XJHRUGQHWH *RWWHVQDPH LVW (O ZDV HLQIDFK *RWW EHGHXWHW PlQQOLFK LQ GHU 1DWXU XQG QDFK GHU JUDPPDWLVFKHQ )RUP 'HU (U]HQJHO GLHVHU 6HSKLUDK LVW 7VDGNLHO GLH 5HFKWVFKDIIHQKHLW *RWWHV GLH *HUHFK WLJNHLW XQG :RKOZROOHQ EHLQKDOWHW 'HU &KRU GHU (QJHO VLQG GLH &KDVFKPDOOLP GLH)XQNHOQGHQ 1DFK DOWHU RNNXOWHU $QVFKDXXQJ LVW GHU 0HQVFK HLQ 0LNUR NRVPRVGHV0DNURNRVPRVHLQH0LQLDWXUGHUJURHQ:HOW LQGHUHU OHEW XQG YRQ GHU HU HLQ 7HLO LVW $OOH .UlIWH GLH LQ GHQ XQHU PHOLFKHQ :HLWHQ GHV 8QLYHUVXPV ZLUNVDP VLQG ZHOFKHV GHQ 0HQVFKHQ XPJLEW VLQG DXFK LQ LKP VHOEVW SUlVHQW 6RPLW LVW GHU /HEHQVEDXP QLFKW QXU HLQH V\PEROLVFKH .DUWH GHV 8QLYHUVXPV VRQGHUQ GLH 6HSKLURWK VLQG DXFK V\PEROLVFKH 5HSUlVHQWDQWHQ GHU SV\FKLVFKHQ6WUXNWXUGHV0HQVFKHQ (V JLEW EULJHQV HLQ ]X GLHVHP 3XQNW SDVVHQGHV =LWDW DXV GHP 6RKDU ©:DV LVW GHU0HQVFK" %HVWHKW HU QXU DXV +DXW )OHLVFK .QRFKHQXQG 6HKQHQ" 1HLQ GLH (VVHQ] GHV 0HQVFKHQ LVW VHLQH 6HHOH VHLQH +DXW VHLQ )OHLVFK VHLQH .QRFKHQ XQG6HKQHQ VLQG QXU HLQHlXHUH+OOHGLHEORH .OHLGXQJ GRFK VLH VLQG QLFKW GHU 0HQVFK :HQQ GHU 0HQVFK DXV GLHVHU :HOW VFKHLGHWOHJWHUDOOHGLHVH.OHLGXQJVVWFNHDE'LH+DXW PLWGHUHU VLFK EHGHFNW XQG DOOH GLHVH .QRFKHQ XQG 6HKQHQ VLH DOOH HQWKDOWHQ HLQHQ 6\PEROLVPXV LP *HKHLPQLV GHU KLPPOLVFKHQ :HLVKHLW ZHOFKHU GHPHQWVSULFKWZDVREHQLVW
'LH .QRFKHQ XQG 6HKQHQ V\PEROLVLHUHQ GLH :DJHQ XQG GLH KLPP OLVFKHQ +HHUVFKDUHQ GLH LQQHQ VLQG $OO GLHV VLQG .OHLGXQJVVWFNH GLH GDV YHUKOOHQ ZDV LQQHQ LVW XQG ZDV DXFK GDV *HKHLPQLV GHV KLPP OLVFKHQ 0HQVFKHQ LVW GHV LQQHUHQ 0HQVFKHQ 'DV JOHLFKH LVW DXFK KLHU XQWHQ ]X ILQGHQ 'HU 0HQVFK LVW HWZDV ,QZlUWLJHV XQG VHLQH .OHLGXQJ V VWFNH HQWVSUHFKHQ GHP ZDV REHQ LVW (VRWHULVFK HQWVSULFKW GHU QLHGHUH0HQVFKY|OOLJGHPK|KHUHQ0HQVFKHQª
*HEXUDK
*HEXUDK LVW GLH IQIWH 6HSKLUDK 6LH ELOGHW DXI GHP /HEHQVEDXP GDV *HJHQJHZLFKW ]X &KHVHG XQG QDFK GHU NDEEDOLVWLVFKHQ 7KHRULH LVW VLH GDV *HJHQWHLO YRQ &KHVHG:lKUHQG GLH YLHUWH 6H SKLUDK *QDGH *WH XQG )RUPELOGXQJ GXUFK /LHEH XQG $Q]LHKXQJ UHSUlVHQWLHUW YHUN|USHUW *HEXUDK HLQHUVHLWV 0DFKW XQG (QHUJLH DQGHUHUVHLWV DEHU DXFK =HUVW|UXQJ ,Q EHLGHQ )lOOHQ KDQGHOW HV VLFK VRZRKO XP NRVPLVFKH 3UR]HVVH DOV DXFK XP LQQHUSV\FKLVFKH 9RUJlQJH GLH ZHGHU JHOHXJQHW QRFK XQWHUVFKlW]W ZHUGHQ VROOWHQ :HQQ HV QXU DXIEDXHQGH $NWLYLWlWHQ JlEH ZUGH GDV 8QLYHUVXP EDOG ]LHPOLFK EHUIOOW VHLQ PDQ VWHOOH VLFK GLH $WPRVSKlUH XQVHUHU VFKRQ KHXWH EHUIOOWHQ 6WlGWH LP NRVPLVFKHQ 0DVWDE YRU'LHKLHUZLUNVDPH0DFKWVRUJWGDIUGDEHUKROWH/HEHQVXQG .RPPXQLNDWLRQVIRUPHQ ZRULQ VLH DXFK LPPHU EHVWHKHQ P|JHQ ]HUVW|UW ZHUGHQ XQG GD GDV GDEHL IUHL ZHUGHQGH 0DWHULDO DXI DQGHUH VLQQYROOHUH :HLVH 9HUZHQGXQJ ILQGHW 'LHV GUFNW 'LRQ )RUWXQHLQLKUHP%XFKEHUGLH.DEEDODVRDXV
©'\QDPLVFKH (QHUJLH LVW IU GDV :RKOHUJHKHQ GHU *HVHOOVFKDIW HEHQVR ZLFKWLJ ZLH 6DQIWPXW %DUPKHU]LJNHLW XQG *HGXOG :LU GUIHQ QLH YHUJHVVHQ GD HLQH VSH]LHOOH 'LlW GLH HLQHQ NUDQNHQ 0HQVFKHQ ZLHGHU JHVXQGZHUGHQOlWHLQHQJHVXQGHQ0HQVFKHQNUDQNPDFKHQNDQQ 'DV KHLW ZLU VROOWHQ GLH 4XDOLWlWHQ GLH Q|WLJ VLQG XP HLQHQ hEHUKDQJ DQ .UlIWHQ DXV]XJOHLFKHQ QLH DOV =LHO DQ VLFK DQVHKHQ DOV GDV DOOHLQLJH 0LWWHO ]XU 5HWWXQJ=X YLHO %DUPKHU]LJNHLW PDFKW XQV ]XP 1DUUHQ ]X YLHO *HGXOG ]XP )HLJOLQJ :LU PVVHQ GDV JROGHQH 0LWWHOPDILQGHQ GDV IU N|USHUOLFKH XQG JHLVWLJH *HVXQGKHLW XQG =XIULHGHQKHLW VRUJW XQG VROOWHQ XQV DXHUGHP HKUOLFK HLQJHVWHKHQ GD ZLU 2SIHU E ULQJHQ PVVHQ XP GLHVHV =LHO ]X HUUHLFKHQ 0DQ NDQQ QLFKW DOOHV JOHLFK]HLWLJ KDEHQ ZHGHU LP JHLVWLJHQ QRFK LQ LUJHQGHLQHP DQGHUHQ /HEHQVEH UHLFKª
'HUGLHVHU6HSKLUDKHQWVSUHFKHQGH*RWWHVQDPHLVW(ORKLP*LEERU HLQ PlFKWLJHU *RWW PlQQOLFK XQG ZHLEOLFK GHU 0DFKW 'HU *HEXUDK]XJHRUGQHWH 3ODQHW LVW 0DUV GHU *RWW GHV .ULHJHV GHU LP %XFKGHV*HVHW]HV&URZOH\ LQGHU*HVWDOWYRQ5D+RRU.KXLW]X :RUWNRPPW©=XQlFKVWP|FKWHLFKNODUVWHOOHQGDLFKHLQ*RWW ')RUWXQHDD26I
GHV .ULHJHV XQG GHU 5DFKH ELQ ,FK ZHUGH LKQHQJHJHQEHU +lUWH ]HLJHQ 9HUHKUW PLFK PLW )HXHU XQG %OXW YHUHKUW PLFK PLW 6FKZHUWHUQ XQG PLW 6SHHUHQ 'LH )UDXHQ P|JHQ PLW JHJUWHWHP 6FKZHUW YRU PLU HUVFKHLQHQ %OXW P|JH LQ PHLQHP 1DPHQ IOLH HQª ,P %XFK ([RGXV GHV $OWHQ 7HVWDPHQWV ILQGHQ ZLU HLQHQ DQ -HKRYD JHULFKWHWHQ /REJHVDQJ DXI GLH )UHXGHQ GHV .ULHJHV 'LHVHU ZXUGH JHVXQJHQ QDFKGHP GLH .LQGHU ,VUDHOV GDV 5RWH 0HHU GXUFK TXHUWKDWWHQZHOFKHVVLFKJHWHLOWKDWWHVRGDGLH.LQGHU,VUDHOVHV GXUFKVFKUHLWHQ NRQQWHQ $QVFKOLHHQG VFKOR HV VLFK EHU GHQ bJ\SWHUQ PLW LKUHQ :DJHQ ZLHGHU XQG YHUQLFKWHWH VLH Y|OOLJ ,Q GLHVHP /REJHVDQJ ZLUG -HKRYD DOV (VFK PLOFKRPDK 0DQQ GHV .ULHJHV EH]HLFKQHW ©-HKRYD LVW HLQ PlFKWLJHU .ULHJHU -HKRYD LVW 6HLQ1DPHª,FKNDQQPLFKQRFKOHEKDIWGDUDQHULQQHUQZLHLFKLQ PHLQHUIUKHQ.LQGKHLWLQGHU6\QDJRJHZDUDOVGLHVHU$EVFKQLWW GHU 7RLDK JHVXQJHQ ZXUGH 'LH 0HORGLH XQG GHU &KDUDNWHU GHV ULWXHOOHQ6LQJHQVYHUlQGHUWHQVLFK]XHLQHPWULXPSKDOHQ/REJHVDQJ DOVGHU.DQWRULQWRQLHUWH©,FKVLQJH-HKRYDHLQ/REOLHGGHQQHUKDW JORUUHLFKWULXPSKLHUW'HLQH5HFKWHRK-HKRYDLVWUXKPUHLFKLQ LKUHU0DFKWGHLQH5HFKWHRK+HUUKDWGLH)HLQGH]HUVFKPHWWHUW :HU LVW 'LU XQWHU GHQ *|WWHUQ JOHLFK RK -HKRYDª :HU GLHVHQ /REJHVDQJ K|UWHGHPPXWHGDV%OXWLQGHQ$GHUQJHIULHUHQXQG GLH+DDUHDXIVHLQHP5FNHQPXWHQVLFKDXIULFKWHQ *HEXUDK LVW PLW HLQHP :RUW JHVDJW GHU (QHUJLH$VSHNW GHU .UHDWLYLWlW $OOH 6\PEROH DXV VlPWOLFKHQ 4XHOOHQ P\WKRORJL VFKHQ ZLH DQGHUZHLWLJHQ EH]LHKHQ VLFK DXVVFKOLHOLFK DXI GLHVHQ *HGDQNHQ 'D HV VLFK XP GLH IQIWH 'DWHL LQ XQVHUHU 5HJLVWUDWXU KDQGHOW VLQG KLHU DXFK DOOH )LJXUHQ 6\PEROH ,GHHQ XVZ HLQ]X RUGQHQEHLGHQHQGLH=DKO)QIHLQH5ROOHVSLHOW $OHLVWHU &URZOH\ KDW HLQPDO HLQH UHL]HQGH NOHLQH SRUQRJUDSKL VFKH *HVFKLFKWH PLW GHP 7LWHO7KH 'DXJKWHU RI WKH +RUVHOHHFK ©'LH7RFKWHU GHV:XFKHUHUVª JHVFKULHEHQGLHXQVKLHUQXUXQWHU HLQHP JDQ] EHVWLPPWHQ $VSHNW LQWHUHVVLHUW 6LH HQWKlOW HLQH ZXQGHUYROOH %HVFKUHLEXQJ GHU JHVDPWHQ VSLULWXHOOHQ +LHUDUFKLH YRQ *HEXUDK YRP *RWWHVQDPHQ GLHVHU 6HSKLUDK ELV ]XP LKU ]XJHRUGQHWHQ QLHGHUHQ *HLVW 'LHVH %HVFKUHLEXQJ GHU +LHUDUFKLH HUVFKHLQWPLUVRJHOXQJHQGDLFKGDUDXV]LWLHUHQP|FKWH
©'LH .URQH YRQ (ORKLP *LEERU ZDU GHU 5DXP VHOEVW GLH EHLGHQ +lOIWHQ VHLQHV *HKLUQV ZDUHQ -D XQG 1HLQ GHV 8QLYHUVXPV VHLQ $WHP ZDU GHU $WHP GHV /HEHQV VHOEVW VHLQ 6HLQ ZDU GHU 0DKDOLQJDP GHV (UVWHQ MHQVHLWV YRQ /HEHQ XQG 7RG GHU (U]HXJHU DXV GHP 1LFKWV 6HLQH 5VWXQJ ZDU GDV XUDQIlQJOLFKH :DVVHU GHV &KDRV 'LH XQHQGOLFKH PRQGDUWLJH .UPPXQJ VHLQHV .|USHUV GLH EOLW]HQGH 6FKQHOOLJNHLW VHLQHV :RUWHV ZHOFKHV IRUPXOLHUWH ZDV MHQVHLWV YRQ &KDRV XQG .RVPRV ZDU VHLQH 0DFKW JU|HU DOV GLH GHV (OHIDQWHQ GHV /|ZHQ GHU6FKLOGNU|WHXQG GHV 6WLHUV GLH LQ GHU LQGLVFKHQ /HJHQGH DOV 6WW]HQ GHU YLHU %XFKVWDEHQ GHV 1DPHQV JHQDQQW ZHUGHQ VHLQ 5XKP GHU GHPMHQLJHQ GHU 6RQQH JOLFK ZHOFKH YRU XQG MHQVHLWV YRQ DOOHQ 6RQQHQLVWXQGYRQZHOFKHUGLH6WHUQH NOHLQH )XQNHQ VLQG GLH HU VFKOXJ DOV HU LP 8QHQGOLFKHQ JHJHQ GDV 8QHQGOLFKHNlPSIWH
6LHKH GHQ 0lFKWLJHQ VLHKH .DPDHO GHQ 6WDUNHQ 6HLQ XQJHNU|QWHV +DXSW JOLFK HLQHP ZLUEHOQGHQ 5DG DXV $PHWK\VW XQG DOOH .UlIWH GHU (UGH XQG GHV +LPPHOV GUHKWHQ VLFK GDULQ 6HLQ .|USHU ZDU GDV 0lFKWLJH 0HHU VHOEVW XQG HU ZDU JH]HLFKQHW YRQ GHQ 0DOHQ GHU .UHX]LJXQJ GXUFK GLH HU ZHVHQWOLFK VWlUNHU JHZRUGHQ ZDU DOV HU ]XYRU JHZHVHQ ZDU $XFK WUXJHUGLH)OJHOXQGGLH:DIIHQGHV5DXPHVXQGGHU*HUHFKWLJNHLWXQGLQ VLFK VHOEVW ZDU HU GDV JURH $PHQ ZHOFKHV $QIDQJ XQG (QGH YRQ DOOHPLVW
+LQWHU LKP ZDUHQ GLH 6HUDSKLP GLH IHXULJHQ 6FKODQJHQ hEHU LKUHQ .|SIHQ HUKREHQ VLFK GLH GUHLIDFKHQ )HXHU]XQJHQ LKU 5XKP JOLFK GHP GHU 6RQQH LKUH 6FKXSSHQ JOLFKHQ EUHQQHQGHQ 6WDKOSODWWHQ VLH WDQ]WHQ ZLH -XQJIUDXHQ YRU LKUHP +HUUQ XQG VLH ULWWHQ LQ LKUHU +HUUOLFKNHLW DXI GHP6WXUPXQGDXIGHP*HEUOOGHU6HH 3UlFKWLJ ZDU GLH PRQGJOHLFKH .URQH GHU JURHQ ,QWHOOLJHQ] *UDSKLHO 6HLQ *HVLFKW ZDU ZLH GLH6RQQHZLH VLHMHQVHLWV GHV6FKOHLHUVGLHVHV LUGLVFKHQ )LUPDPHQWV HUVFKHLQW 6HLQ .ULHJHUN|USHU ZDU ZLH HLQ VWlK OHUQHU7XUPMXQJIUlXOLFKVWDUN
6FKDUODFKURW ZDUHQ VHLQH N|QLJOLFKHQ *HZlQGHU XQG VHLQH *OLHGHU ZDUHQ XPJHEHQ YRQ MXQJHQ /RWRVEOlWWHUQ GHQQ MHQH *OLHGHU ZDUHQ VWlUNHU DOV MHGH 5VWXQJ GLH MHPDOV LP +LPPHO XQG LQ GHU +|OOH JH VFKPLHGHW ZXUGH (U WUXJ GLH JROGHQHQ )OJHO GHV :LQGHV VHLQ 6FKZHUW DXVJUQHP)HXHUORGHUWHLQVHLQHU5HFKWHQXQGLQGHU/LQNHQKLHOWHU
GHUJURH3HQLV$QPGhEHUV
GLH EODXH )HGHU GHU *HUHFKWLJNHLW XQEHZHJW GXUFK VHLQHQ )OXJ XQG GXUFKGHQ$XIUXKUGHV8QLYHUVXPV
%DU]DEHO $XV IODPPHQGHP VWUDKOHQGHP ZHLWIOLHJHQGHP *ROG ZDU VHLQH.URQH LKUH6WUDKOHQEOLW]WHQVFKQHOOHUDOVGLH%OLW]HHLQHV*HZLW WHUV 6HLQ .RSI JOLFK GHU JOKHQGHQ 6RQQH LQ LKUHP K|FKVWHQ 6WDQG DP 0LWWDJVKLPPHO 6HLQ 8PKDQJ ZDU DXV UHLQHP $PHWK\V W XQG ZRJWH KLQWHULKPKHUZLHHLQPlFKWLJHU)OXVHLQH5VWXQJZDUDXVOHEHQGL JHP *ROGELV]XGHQ%HLQVFKLHQHQZLHYRQ%OLW]HQSROLHUWHUVWUDKOWH HLQHQ XQHUWUlJOLFKHQJROGHQHQ*ODQ]DXVXQGWUXJGDV6FKZHUWXQGGLH :DDJH GHU*HUHFKWLJNHLW 0lFKWLJ XQG JROGHQZDUHQVHLQHZHLWKLQ EOLW]HQGHQ 6FKZLQJHQª
7LSKDUHWK
7LSKDUHWKEHGHXWHW 6FK|QKHLW XQG +DUPRQLH XQG ZHLVW DXI HLQHQ =XVWDQG GHV *OHLFKJHZLFKWV KLQ 'LHV LVW GLH ]HQWUDOH 6HSKLUDK DXI GHP /HEHQVEDXP XQG LQ YLHOHUOHL +LQVLFKW LVW GLHV HLQHU GHU ZLFKWLJVWHQ 7HLOH XQVHUHU NDEEDOLVWLVFKHQ 5HJLVWUDWXU 6LH LVW JOHLFK ZHLW YRQ .HWKHUXQG 0DONXWKHQWIHUQW XQG VWHKW SUDNWLVFK PLWMHGHPDQGHUHQ7HLOGHV/HEHQVEDXPHVLQ.RQWDNW 'LH PDJLVFKHQ %LOGHU GLH PLW GLHVHU 6HSKLUDK LQ 9HUELQGXQJ JHEUDFKW ZHUGHQ VLQG XQJHKHXHU JUR DQ GHU =DKO =X LKQHQ JH K|UHQ GLH $XIHUVWHKXQJVJ|WWHU MHGHU =HLW XQG MHGHU .XOWXU YRQ 2VLULV ELV &KULVWXV GLH 6RQQHQVFKHLEHQ YRQ 5D ELV $SROOR *|WWHU UHOLJL|VHU 7UXQNHQKHLW ZLH %DFFKXV XQG 'LRQ\VRV XQG GDV QHX JHERUHQH VSLULWXHOOH .LQG YRQ .ULVKQD ELV ]XP -HVXVNLQG 0HGL WDWLRQ EHU DOOH GLHVH %LOGHU ZLUG GLH ZHVHQKDIWH 1DWXU GLHVHU 6HSKLUDKHQWKOOHQ $XFKLQGLHVHP)DOOLVWGDVZDV'LRQ)RUWXQH]XVDJHQKDWYRQ JURHU$XVVDJHNUDIW ©,Q GHU $QWLNH ZXUGH ]ZLVFKHQ0HWKRGHQ GHU 0DQWLN GLHGLH FKWKRQLVFKHQ RGHU 8QWHUZHOWNRQWDNWH KHUVWHOOWHQ XQG GHU J|WWOLFKHQ 7UXQNHQKHLW GHU 0\VWHULHQ XQWHUVFKLHGHQ 'LH 0lQDGHQ GLH 9HUHKUH ULQQHQ GHV 'LRQ\VRV VWDQGHQ DXI HLQHU Y|OOLJ DQGHUHQ 6WXIH GHU (LQZHL KXQJ DOV GLH $QKlQJHULQQHQ GHU 3\WKLD GLH EHUVLQQOLFK XQG PHGLDO ZDUHQZlKUHQGGLH0lQDGHQGDVH[DOWLHUWH%HZXWVHLQXQGGDVDQJH
UHJWH/HEHQVJHIKOJHQRVVHQGDVVLHEHIlKLJWHHUVWDXQOLFKH.UDIWDNWH ]X YROOEULQJHQ
$OOH G\QDPLVFKHQ 5HOLJLRQHQ WUDJHQ LQ VLFK GLHVHQ GLRQ\VLVFKHQ $VSHNW 6HOEVW LQ GHU FKULVWOLFKHQ 5HOLJLRQ ILQGHQ VLFK YLHOH %HULFKWH YRQ +HLOLJHQ GHQHQ GHU JHNUHX]LJWH &KULVWXV GDV 2EMHNW LKUHU 9HUHKUXQJ VFKOLHOLFK DOV GHU J|WWOLFKH %UlXWLJDP HUVFKLHQ :HQQ VLH EHU GLHVHQ J|WWOLFKHQ 5DXVFK EHULFKWHQ GHU VLH HUIDWH YHUZHQGHWHQ VLH EHL GHU %HVFKUHLEXQJ 0HWDSKHUQ PHQVFKOLFKHU /LHEH XP LKUHQ (UIDKUXQJHQ $XVGUXFN ]X JHEHQ :LH HQW]FNHQG ELVW GX PHLQH 6FKZHVWHU PHLQH *HPDKOLQ 7UXQNHQ YRQ GHQ .VVHQ YRQ *RWWHV/LSSHQ ª 'LHVH %HVFKUHLEXQJHQVDJHQIUGHQ GHUVLH]XGHXWHQYHUPDJHLQH0HQJH DXVª
'DV DVWURORJLVFKH 6\PERO YRQ 7LSKDUHWK LVW GLH 6RQQH PLW LKUHU IDVW XQHQGOLFKHQ =DKO YRQ (QWVSUHFKXQJHQ XQG %HGHXWXQJHQ GLH PDQ VWXGLHUHQ XQG EHU GLH PDQ PHGLWLHUHQ VROOWH XP GLHVH 6H SKLUDKP|JOLFKVWXPIDVVHQG]XYHUVWHKHQ ,KU *RWWHVQDPH LVW <+9+ (ORDK YH'DDWK ZDV PDQ QXU PLW JURHQ 6FKZLHULJNHLWHQ Z|UWOLFK EHUVHW]HQ NDQQ PDQ N|QQWH HV MHGRFK XQJHIlKU DOV <+9+ +HUU *RWW GHV :LVVHQV ZLHGHUJHEHQ 'HU (U]HQJHO LVW 5DSKDHO GLH +HLONUDIW *RWWHV ZDV XQV DQ ([RGXV HULQQHUQ N|QQWH ©'HQQ LFK ELQ GHU +HUU GHU GLFK KHLOWª 0DODFKLP LVW HLQ KHEUlLVFKHV :RUW XQG EHGHXWHW ©(QJHOª ZHQQ PDQ GDV ]ZHLWH ©Dª DXVOlW NDQQ PDQ GLHVHV :RUW DXFK DOV ©.|QLJHªEHUVHW]HQ 9LHOOHLFKW LVW HLQH GHU EHVWHQ 0|JOLFKNHLWHQ GLH YROOVWlQGLJH %HGHXWXQJGLHVHU6HSKLUDK]XHUOlXWHUQHLQHQGHUULWXHOOHQ'LDORJH GHV *ROGHQ 'DZQ DXV GHP VRJHQDQQWHQ ='RNXPHQW ]X ]LWLHUHQ ©'HQQ2VLULVRQ1RSKULVGHUYRUGHQ*|WWHUQJHUHFKWIHUWLJWZDUVSUDFK 'LHVHVVLQGGLH(OHPHQWHPHLQHV.|USHUV GXUFK/HLGHQYROOHQGHWGXUFK9HUVXFKXQJYHUKHUUOLFKW 'HQQGHU'XIWGHUVWHUEHQGHQ5RVHLVWZLHGDVXQWHUGUFNWH6HXI]HQ PHLQHV/HLGHQV GDVIODPPHQGURWH)HXHUZLHGLH.UDIWPHLQHVXQEHXJVDPHQ:LOOHQV XQGGHU:HLQNHOFKLVWGDV$XVJLHHQPHLQHV+HU]EOXWHV
')RUWXQHDD26I
GHU:LHGHUHUVWHKXQJXQGGHPHUQHXHUWHQ/HEHQJHRSIHUW%URW XQG6DO]VLQGGLH*UXQGODJHQPHLQHV.|USHUVZHOFKHQLFK ]HUVW|UHGDPLWHUHUQHXHUWZHUGH GHQQLFKELQGHUWULXPSKLHUHQGH2VLULV2VLULVRQ1RSKULVGHU*HUHFKW IHUWLJWH ,FKELQGHUPLWHLQHPIOHLVFKOLFKHQ.|USHUEHNOHLGHWLVWLQGHPMHGRFK GHU*HLVWGHUJURHQ*|WWHUZRKQW,FKELQGHU+HUUGHV/HEHQVGHUEHU GHQ7RGVLHJWH:HUDQPLUWHLOKDWZLUGDXFKPLWPLUDXIHUVWHKHQ)U GLHGHUHQ6WlWWHLP8QVLFKWEDUHQLVWELQLFKGHUVLFKLQGHU0DWHULH DXVGUFNW ,FKELQJHOlXWHUW,FKVWHKHEHUGHP8QLYHUVXP,FK YHUV|KQHHVPLWGHQHZLJHQ*|WWHUQ,FKELQGHU 9ROOHQGHUGHU0DWHULH2KQHPLFKEHVWHKWGDV 8QLYHUVXPQLFKWª 1HW]DFK
1HW]DFK 6LHJ LVW GLH VLHEWH 'DWHL LQ XQVHUHU NDEEDOLVWLVFKHQ 5HJL VWUDWXU :HQQ ZLU XQV DQ GLHVHU hEHUVHW]XQJ RULHQWLHUHQ N|QQHQ ZLU 1LNH GLH 6LHJHVJ|WWLQ GLH PLW IHVWHP 6FKULWW HLQKHUVFKUHLWHW GLH 6FKZLQJHQ JHVSUHL]W XQG YRQ )HXHU XQG 8QJHVWP ]LWWHUQG ]XP6\PEROELOGGLHVHU6HSKLUDKPDFKHQ 'HU *RWWHVQDPH-+9+ 7VHYD RWK +HUU GHU +HHUVFKDUHQ ZHLVW HEHQIDOOVLQGLHVH5LFKWXQJ:LUKDEHQHVKLHUQLFKWPLWNUHDWLYHU ,PDJLQDWLRQ RGHU PLW LUJHQGHLQHU PHQWDOHQ )lKLJNHLW LP EOLFKHQ 6LQQH ]X WXQ VRQGHUQ PLW GHP )HXHU GHU (PRWLRQ XQG GHV *HIKOV GDV OHW]WHQGOLFK GLH .UHDWLYLWlW DQUHJW 'LHV VLQG NHLQH EORHQ %HVWDQGWHLOH GHU PHQVFKOLFKHQ 3V\FKH VRQGHUQ LQWHJUDOH .RP SRQHQWHQ GHV 8QLYHUVXPV VHOEVW 'LH (UIDKUXQJ GHU (NVWDVH GHU )UHXGHGHU/XVWXQGGHU/HLGHQVFKDIW GDVLVW6LHJ 6HLQ )HXHU ZLUG YRQ*HEXUDK JHVSLHJHOWZRGXUFK GLH %H]LHKXQJ ]ZLVFKHQGHQDVWURORJLVFKHQ3RODULWlWHQ0DUVXQG9HQXVHQWVWHKW 'LHGLHVHU6HSKLUDK]XJHRUGQHWHQ*|WWHUVLQGGLHMHQLJHQGLH]XU DVWURORJLVFKHQ(QWVSUHFKXQJ9HQXVLQ%H]LHKXQJVWHKHQ$SKURGL ,5HJDUGLH'DVPDJLVFKH 6\VWHPGHV*ROGHQ'DZQ %G,,6
WH $VWDUWH +DWKRU XVZ 6LH UHSUlVHQWLHUHQ /LHEH (UIOOXQJ /XVW GLH.QVWHLQDOOHQ)RUPHQXQGGLH6FK|QKHLW 6R ZLH LP +RURVNRS GDV VLHEWH +DXV GLH (KH UHSUlVHQWLHUW ZRKLQJHJHQ GDV IQIWH +DXV $XVNXQIW EHU /XVW .UHDWLYLWlW XQG 6H[ JLEW UHSUlVHQWLHUW 1HW]DFK /LHEH /XVW XQG 6H[XDOLWlW RGHU 3RODULWlW ZlKUHQG IHVRG PLW 3URGXNWLYLWlW XQG )UXFKWEDUNHLW LQ 9HUELQGXQJ JHEUDFKW ZLUG (V EHVWHKW NHLQH ]ZLQJHQGH 9HUELQ GXQJ ]ZLVFKHQ GHP HLQHQ XQG GHP DQGHUHQ EHLGH N|QQHQ PLWHLQ DQGHUNRH[LVWLHUHQ 1HW]DFK EH]LHKW VLFK DXI GLH (PRWLRQHQ XQG *HIKOH GLH HLQH 9HUHLQLJXQJ GHU EHLGHQ 3ROH EHZLUNHQ N|QQHQ GRFK VLQG HV -HVRG XQG GHU 0RQG PLW VHLQHQ DXI GLH 3V\FKH HLQZLUNHQGHQ *H]HLWHQ GLHDXVGLHVHU3DDUXQJHLQH)UXFKWHQWVWHKHQODVVHQ 0DQ N|QQWH VDJHQ GD 1HW]DFK VLFK DXI GDV %HJHKUHQ EH]LHKW GDV ZDV LP 2VWHQ DOV .DUPD 6LQQHVYHUODQJHQ :QVFKH JH VFKOHFKWOLFKH/XVW EH]HLFKQHWZLUG 'HU GLHVHU 6SKlUH HQWVSUHFKHQGH :HJ ]X *RWW LVW %KDNWD +LQ JDEH XQG /LHEH (V LVW VLFKHUOLFK GHU 0KH ZHUW LQ GLHVHP =X VDPPHQKDQJ &URZOH\V /LEHL $VWDUWH YHO %HL\OOL ]X OHVHQ 8P HLQHQ (LQGUXFN YRQ %KDNWD XQG 1HW]DFK ]X JHEHQ P|FKWH LFK HLQHQ NOHLQHQ $XV]XJ DXV GLHVHP 7H[W GHU GHQ *HLVW GHU +LQJDEH DWPHW]LWLHUHQ 'HU 9HUHKUHQGHP|JHZRKOEHGHQNHQGDREZRKO&KULVWXVXQG2VL ULV HLQVVLQGGHQQRFK(UVWHUHUPLWFKULVWOLFKHQXQG/HW]WHUHUPLWlJ\S WLVFKHQ 5LWHQ YHUHKUW ZLUG 8QG GLHV REJOHLFK GLH 5LWHQ VHOEVW ]HUHPRQLHOO JOHLFKZHUWLJ VLQG (V VROOWH MHGRFK HLQ 6\PERO JHEHQ ZHOFKHV GDV hEHUVFKUHLWHQ GHUDUWLJHU %HJUHQ]XQJHQ DQ]HLJW XQG DXFK KLQ VLFKWOLFK GHU*RWWKHLWVROOWHHVHLQH%HVWlWLJXQJJHEHQIULKUH,GHQWLWlWVRZRKOPLW DOOHQ DQGHUHQ lKQOLFKHQ *|WWHUQ DQGHUHU 1DWLRQHQ ZLH DXFK PLW GHP +|FKVWHQYRQZHOFKHPVLHDOOHSDUWLHOOH5HIOH[LRQHQ VLQG
%H]JOLFK GHV +DXSWRUWHVGHU9HUHKUXQJ 'LHV LVW GDV+HU] GHV9HUHK UHQGHQ ZHOFKHV V\PEROLVFK GXUFK GHQMHQLJHQ 5DXP RGHU 3ODW] UHSUl VHQWLHUWZHUGHQVROOWHGHQHUDPPHLVWHQOLHEW'HULKPOLHEVWH3XQNWLQ GLHVHP5DXPRGHUDQGLHVHP3ODW]P|JHGHU6FKUHLQVHLQHV7HPSHOVVHLQ 'LHVHU 6FKUHLQ XQG $OWDU VROOWH DP EHVWHQ LP :DOG RGHU LQ HLQHP DEJHVFKLHGHQHQ +DLQ RGHU *DUWHQ OLHJHQ (U VROOWH YRQ 3URIDQHP DEJH VFKLUPWZHUGHQ
%H]JOLFK GHV %LOGHV GHU *RWWKHLW 6RUJH GDIU GD HLQ %LOG GHU *RWWKHLW YRUKDQGHQ LVW HUVWHQV ZHLO GLHV EHL GHU 0HGLWDWLRQ ]XU $FKWVDPNHLW DQUHJWXQG]ZHLWHQVZHLOGDV%LOGGXUFK=HUHPRQLHQYRQHLQHUJHZLV VHQ .UDIW HUIOOW XQG EHZRKQW ZLUG ]XPLQGHVW ZLUG GLHV JHVDJW XQG ZLU OHXJQHQ HV QLFKW 'LHVHV %LOG P|JH GDV ZXQGHUYROOVWH XQG YROONRPPHQ VWH VHLQGDVGHU9HUHKUHQGHEHVFKDIIHQNDQQ) DOOVHULQGHU/DJHLVW VHOEVW HLQ VROFKHV %LOG ]X PDOHQ RGHU ]X JHVWDOWHQ XP VR EHVVHU )DOOV HU HLQH *RWWKHLW ZlKOW GHUHQ 1DWXU PLW NHLQHP %LOG ]X YHUHLQEDUHQ LVW P|JH GLHVHLQHLQHPOHHUHQ6FKUHLQYHUHKUWZHUGHQ
%H]JOLFK GHU =HUHPRQLHQ 'HU 3KL ORVRSKXV P|JH HLQH PDFKWYROOH ,QYRNDWLRQ GHU EHWUHIIHQGHQ *RWWKHLW HUVLQQHQ XQG DXVIKUHQ 'LHVH VROOMHGRFKDXVPHKUHUHQ7HLOHQEHVWHKHQ
(UVWHQVHLQHU9HUZQVFKXQJZLHHLQ6NODYHVLHJHJHQEHUVHLQHP +HUUQDXVVSULFKW =ZHLWHQVHLQHP(LGZLHHLQ9DVDOO LKQVHLQHP/HKQVKHUUQJHJHQEHU OHLVWHW 'ULWWHQVHLQ$QJHGHQNHQZLHYRQHLQHP.LQGJHJHQEHUVHLQHQ(OWHUQ 9LHUWHQVHLQ*HEHWZLHYRQHLQHP3ULHVWHU]XVHLQHP*RWWJHVSURFKHQ )QIWHQVHLQ*HVSUlFKZLH]ZLVFKHQ%UGHUQA 6HFKVWHQVHLQHLQVWl QGLJH%LWWHZLHYRQ)UHXQG]X)UHXQG 6LHEWHQVHLQ0DGULJDO/LHEHVOLHG ZLHHVHLQ/LHEKDEHUVHLQHU*HOLHEWHQ VLQJHQZUGH
8QG PHUNH ZRKO GD GDV (UVWH DXV )XUFKW GDV =ZHLWH DXV /HKHQVWUHXH GDV 'ULWWH DXV $EKlQJLJNHLW GDV 9LHUWH DXV 9HUHKUXQJ GDV ) QIWH DXV 9HUWUDXHQ GDV 6HFKVWH DXV .DPHUDGVFKDIW XQG GDV 6LHEWH DXV /HLGHQ VFKDIWHQWVSULQJHQVROOWHª
'LHVLVWGHUHVVHQWLHOOH*HLVWYRQ1HW]DFK +RG
+RG LVW GLH +HUUOLFKNHLW XQG LQ GLHVHU DFKWHQ 'DWHL GHU NDEEDOLVWL VFKHQ 5HJLVWUDWXU ILQGHQ ZLU DOOH PHUNXULVFKHQ *|WWHU HLQ +LQZHLVGDUDXIGDHVKLHUXPGDV0HQWDOHXQGXPGHQ,QWHOOHNW JHKW'LHVHU6HSKLUDKLVWGDV(OHPHQW:DVVHU]XJHRUGQHWZHOFKHVLQ GLHVHP )DOO YRQ &KHVHG UHIOHNWLHUW ZLUG VR GD HLQH 9HUELQGXQJ ]ZLVFKHQ-XSLWHUGHPVRJHQDQQWHQK|KHUHQ*HLVWXQG0HUNXU
HQWVWHKW GHU GLH QLHGHUHQ XQG NRQNUHWHQ )RUPHQ PHQWDOHU $NWL YLWlW UHSUlVHQWLHUW (LQLJH PRGHUQH $XWRUHQ EHWUDFKWHQ +RG DOV HLQH ©)RUPª6HSKLUDK LP *HJHQVDW] ]XP ©0DFKWª.RQ]HSW YRQ 1HW]DFK 'LHV LVW GHU %HUHLFK GHU PHQWDOHQ %LOGHU XQG GHU LQWHO OHNWXHOOHQ$QVWUHQJXQJ :HQQ ZLU GHQ DOWHQ 6DW] ©*RWW UHFKQHWª QHKPHQ XQG ©*RWW SKLORVRSKLHUWª KLQ]XIJHQ VR KDEHQ ZLU HWZDV YRQ GHU 1DWXU YRQ +RG HUIDW $XFK GLH 9HUELQGXQJ GLHVHU 6HSKLUDK ]X 0HUNXU ZHLVW DXI LKUH HVVHQWLHOOH 1DWXU KLQ GHQQ ZLH GDV 0HWDOO 0HUFXULXP 4XHFNVLOEHU LVW GLHVH 3KDVH PHQWDOHU $NWLYLWlW LP 0HQVFKHQ VWlQGLJ LP )OX VLH EHILQGHW VLFK NHLQHQ $XJHQEOLFN ODQJ LP =XVWDQG GHU 5XKH 'LH %HVFKUHLEXQJ GHV U|PLVFKHQ XQG JULHFKL VFKHQ *RWWHV 0HUNXU LVW EH]HLFKQHQG IU GHQ &KDUDNWHU GHU JHL VWLJHQ$NWLYLWlWGLHPLW+RGLQ9HUELQGXQJJHEUDFKWZLUG ,QHLQHP /H[LNRQ GHU 0\WKRORJLH IDQG LFK GHQ +LQZHLV GD +HUPHV GHU *RWW GHV +DQGHOV GHV 5HLFKWXPV XQG *OFNV VRZLH GHU %RWH XQG +HUROG GHU *|WWHU ZDU $XHUGHP VFKHLQW HU GHU 6FKXW]JRWW GHU *DXQHUGHU5HLVHQGHQGHU6FKZlW]HUXQGGHU'LHEH]XVHLQ,QGHU )UK]HLW GHU JULHFKLVFKHQ *HVFKLFKWH ZDU HU DXFK DOV )UXFKWEDUNHLWVJRWW EHNDQQW XQG LQWHUHVVDQW LVW DXHUGHP GD JHZLVVH JUREVFKOlFKWLJH SKDOOLVFKH %LOGHU YRQ LKP VRJHQDQQWH KHUPDH DQ :HJNUHX]XQJHQ XQG YRU +lXVHUQ DXIJHVWHOOW ZXUGHQ :LH GHU lJ\SWLVFKH $QXELV GHU KXQGVN|SI LJH :lFKWHU GHU 7HPSHO JDOW HU DOV 3V\FKRSRPSRV GHU GLH 6HHOHQ GHU 9HUVWRUEHQHQ GXUFK GLH YHUVFKLHGHQHQ 6WDGLHQ QDFK GHP 7RGH LQ GLH 8QWHUZHOW JH OHLWHWH 'DV PDJLVFKH %LOG GLHVHU 6HSKLUDK LVW GDV GHV +HUPDSKURGLWHQ $XHUGHP ZXUGH GHU 1DPH +HUPDQXELV JHEUDXFKW HLQH .RPEL QDWLRQ GHV JULHFKLVFKHQ +HUPHV XQG GHV lJ\SWLVFKHQ $QXELV 'HU +HUPDSKURGLW HLQ 6\PERO IU GLH %LVH[XDOLWlW ZHLVW GDUDXI KLQ GD 0HUNXU RGHU +RG GHU %HUHLFK GHU *HGDQNHQIRUPHQ LVW ZHO FKHU ZHLWJHKHQG QHXWUDO XQG JHVFKOHFKWVORV LVW PDQ N|QQWH DXFK VDJHQ GD VHLQH 3RODULWlW VLFK HQWZLFNHOW MH QDFK GHU $UW ZLH GLHVH )RUPHQ GXUFK GLH EHVHHOHQGHQ HPRWLRQDOHQ )DNWRUHQ JH EUDXFKWZHUGHQ 'HU *RWWHVQDPH LVW (ORKLP 7VHYD RWK GHU *RWW GHU +HHU VFKDUHQ :LH ZLU EHUHLWV K|UWHQ EHVWHKW GDV :RUW (ORKLP DXV GHU ZHLEOLFKHQ )RUP GHV :RUWHV IU ©*RWWª XQG HLQHU PlQQOLFKHQ 3OXUDOHQGXQJ'LHVHU*RWWHVQDPHLVWGHP<+9+7VHYD RWKHQW
JHJHQJHVHW]W GHP -HKRYD GHU +HHUVFKDUHQ 'HU GLHVHU 6HSKLUDK ]XJHRUGQHWH (U]HQJHO LVW 0LFKDHO GHU *RWWlKQOLFKH $XHUGHP VROOWHQ ZLU XQV YHUJHJHQZlUWLJHQ GD 0HUNXU YRQ DOOHQ 3ODQHWHQ GHUMHQLJH LVW GHU GHU 6RQQH DP QlFKVWHQ LVW XQG GHU GDV /LFKW GHU 6RQQHNODUHUUHIOHNWLHUWDOVMHGHUDQGHUH3ODQHW 6R ZLH GLH 1HW]DFK]XJHK|ULJH SUDNWLVFKH 0HWKRGH %KDNWD LVW VRLVWGHU+RGHQWVSUHFKHQGH:HJIQDQD GLH3KLORVRSKLH(VVHLLQ GLHVHP =XVDPPHQKDQJ GDUDXI KLQJHZLHVHQ GD LQ &URZOH\V 1HXIRUPXOLHUXQJ GHU /HKUHQ GHV *ROGHQ 'DZQGLH VSH]LILVFKHQ $XIJDEHQ GLH GHP +RG ]XJHRUGQHWHQ (LQZHLKXQJV *UDG HQW VSUHFKHQ GLH 0HLVWHUXQJ GHU 3KLORVRSKLH XQG YRU DOOHP GHU .DE EDOD VHOEVW ZDUHQ %HLVSLHOVZHLVH ZXUGH EHVRQGHUV GHU PDWKH PDWLVFKH $VSHNW GHU .DEEDOD KHUYRUJHKREHQ DXI GD GDV :HVHQ MHGHU =DKO VR JUQGOLFK ZLH P|JOLFK HUIRUVFKW XQG YHUVWDQGHQ ZHUGH 'HPHQWVSUHFKHQG ILQGHQ ZLU LQ 'LRQ )RUWXQHV %XFK GHQ IRO JHQGHQ$EVFKQLWW ©(EHQVR ZLUG XQV GLH +RG6SKlUH LPPHU HLQ %XFK PLW VLHEHQ 6LHJHOQ EOHLEHQ ZHQQZLUNHLQH PDJLVFKHQ)lKLJNHLWHQLQXQVKDEHQGDVKHLW ZHQQXQVHU,QWHOOHNWQLFKWLPVWDQGHLVWSKDQWDVLHYROOH%LOGHU]XHU]HX JHQ :LUN|QQHQHUVWPLWHLQHU6SKlUHDUEHLWHQZHQQZLUGLH(LQZHLKXQJLQ VLH HPSIDQJHQ KDEHQ ZRGXUFKLKUH.UlIWH DXIXQVEHUWUDJHQ ZRUGHQ VLQG XP HV LQ GHU 6SUDFKH GHU .DEEDOLVWHQ DXV]XGUFNHQ 7HFKQLVFK JHVHKHQILQGHWEHLGHU$UEHLWPLWGHQ 0\VWHULHQ GLHVH(LQZHLKXQJDXI GHU SK\VLVFKHQ (EHQH GXUFK HLQ =HUHPRQLHOO VWDWW GDV QLFKW ]ZDQJVOlXILJDXFK]XP(UIROJIKUHQPX'HUVSULQJHQGH3XQNW LVWGHU GD $QODJHQ GLH QLFKW EHUHLWV ODWHQW YRUKDQGHQ VLQG DXFK QLFKW HQWZLFNHOW ZHUGHQ N|QQHQ 'HU ZLUNOLFKH ,QLWLDWRU LVW GDV /HEHQ VHOEVW 'LH (UIDKUXQJHQ GLH ZLU LP /HEHQ VDPPHOQ DNWLYLHUHQ GLH DOV $QODJH YRUKDQGHQHQ)lKLJNHLWHQVRZHLWVLHGDVLQG'LH(LQZHLKXQJV]HUHPR QLH XQG GLH LQ GHQ YHUVFKLHGHQHQ *UDGHQ YHUPLWWHOWHQ /HKUHQ HUIOOHQ OHGLJOLFK GHQ =ZHFNGDVYRUKHU8QEHZXWH LQV %HZXWVHLQ]X KHEHQ XQG PLWWHOV GHP YRQ K|KHUHQ ,QWHOOLJHQ]HQ JHOHQNWHQ :LOOHQ GLH HQW ZLFNHOWH 5HDNWLRQVIlKLJNHLW DXI EHVWLPPWH 6WLPXOL VWHXHUQ ]X N|QQHQ GLHYRUKHUQXUGXUFKXQZLOONUOLFKH5HL]HJHOHQNWZHU GHQNRQQWHQª
')RUWXQHDD26I
-HVRG
-HVRGGDV )XQGDPHQW LVW GHU %HUHLFK GHU 0RQGJ|WWHU VRZLH GHU *|WWHU GHU )UXFKWEDUNHLW GHU PHQVFKOLFKHQ WLHULVFKHQ XQG SIODQ]OLFKHQ $XHUGHP LVW GLHV GHU %HUHLFK GHU 6H[XDOLWlW VR GD GLHVHU 7HLO GHU NDEEDOLVWLVFKHQ 5HJLVWUDWXU OHLFKW VHKU XPIDQJUHLFK ZHUGHQ NDQQ 'DV PDJLVFKH %LOG GLHVHU 6HSKLUDK LVW GDV HLQHV VHKU VWDUNHQ QDFNWHQ 0DQQHV GHU LQ GHU /DJH LVW JURH XQG VFKZHUH /DVWHQ ]X WUDJHQ LQ GHU NODVVLVFKHQ JULHFKLVFKHQ 0\WKRORJLH LVW GLHV $WODV GHU GLH :HOW DXI VHLQHQ 6FKXOWHUQ WUlJW 'LH HQW VSUHFKHQGH lJ\SWLVFKH *RWWKHLW KDW HLQH VHKU lKQOLFKH &KDUDN WHULVWLN 6KXGHU *RWW GHU /XIW GHU GLH +LPPHOVJ|WWLQ 1XLWYRQ *HKGHP *RWW GHU (UGH WUHQQW 8P GLHVHQ 6\PEROLVPXV DE]X UXQGHQ P|FKWH LFK GDUDXI KLQZHLVHQ GD GLH PLW GHQ GUHL 0RQGSKDVHQ YHUEXQGHQHQ 9RUVWHOOXQJHQ VRZLH GLH LKQHQ HQW VSUHFKHQGHQ J|WWOLFKHQ (LJHQVFKDIWHQ XQG LKUH )XQNWLRQHQ SD UDGR[HUZHLVH GXUFK )UDXHQJHVWDOWHQ ]XP $XVGUXFN NRPPHQ =XQlFKVW LVW GD $UWHPLV RGHU 6HOHQH GLH MXQJH MXQJIUlXOLFKH *RWWKHLW -lJHULQ NHXVFK XQVFKXOGLJ XQG UHLQ GLH ©0RQGLQª ]X %HJLQQ GHV 0RQG]\NOXV 'DUDXI IROJW GLH 9ROOPRQGSKDVH GLH GLH IUXFKWEDUH 0XWWHU UHSUlVHQWLHUW VR]XVDJHQ LQ GHU )OOH LKUHU 3UR GXNWLYLWlWGLHVLFKLQLKUHUJUXQGOHJHQGHQ)RUWSIODQ]XQJVIXQNWLRQ VHOEVW OXVWYROOH(UIOOXQJ]X VFKHQNHQYHUPDJ V\PEROLVLHUWGXUFK $SKURGLWH'LHVLVWGLHIUXFKWEDUHXQG ZHLOHUIOOWHJHOLHEWHXQG OLHEHQGH )UDX LQ YROOHU %OWH 'DQQ IROJW GHU DEQHKPHQGH 0RQG +HNDWH GLH )UDX QDFK GHU 0HQRSDXVH GLH QDFKGHP LKUH =HLW DOV *HElUHQGHXQG0XWWHUYRUEHULVWNHLQHDQGHUH(UIOOXQJJHIXQGHQ KDW 1DFKGHP LKUH VH[XHOOH $WWUDNWLYLWlW YHUJDQJHQ LVW WUDXHUW VLH EHU GHQ 9HUOXVW GHU /LHEH XQG GHV /LHEHQV XQG ZLUG ]X HLQHU YHUELWWHUWHQ PUULVFKHQ DXVJH]HKUWHQ XQG KH[HQKDIWHQ DOWHUQGHQ )UDX 'LHVHV DOWH :HLE GDV NHLQH )DPLOLH KDW XQG ZHJHQ VHLQHU VFKDUIHQ ©YHUPlQQOLFKWHQª =XQJH JHKDW ZLUG ZXUGH LQ IUKHUHQ =HLWHQGHU+H[HUHLYHUGlFKWLJWXQGGHVKDOEY|OOLJJHPLHGHQ 5REHUW*UDYHVGUFNWGLHVVHKUJXWLQGHU(LQIKUXQJ]XVHLQHP %XFK*ULHFKLVFKH0\WKRORJLHDXV ©'DGHU-DKUHVODXIGHU6RQQHLQlKQOLFKHU:HLVHDQGHQ$QVWLHJ XQG $EIDOOLKUHU.UlIWHHULQQHUW )UKOLQJGDV0lGFKHQ6RPPHUGLH1\P
SKHXQG:LQWHUGDV$OWH:HLE ZXUGHGLH*|WWLQPLWGHQMDKUHV]HLWOLFK EHGLQJWHQ 9HUlQGHUXQJHQ LP 7LHU XQG 3IODQ]HQUHLFK LGHQWLIL]LHUW 6SlWHU NRQQWH VLH QRFK DOV HLQH DQGHUH 7ULDGH HUNDQQW ZHUGHQ GDV 0lGFKHQGHUREHUHQ/XIW GLH1\PSKHGHU(UGHXQGGHV0HHUHVXQGGDV $OWH :HLE GHU 8QWHUZHOW YHUN|USHUW LQ 6HOHQH $SKURGLWH XQG +HNDWH 'LHVH P\VWLVFKHQ $QDORJLHQ IKUWHQ ]XU +HLOLJNHLW GHU =D KO GUHL 'LH 0RQGJ|WWLQNRQQWHGLHVH=DKOLQVLFK]XUQHXQSRWHQ]LHUHQGDMHGHGHU GUHL *HVWDOWHQ 0lGFKHQ 1\PSKH XQG $OWHV :HLE LQ 'UHLKHLW HU VFKLHQXPLKUH*|WWOLFKNHLW]X]HLJHQ,KUH$QEHWHUYHUJDHQQLHPDOV JDQ]GDHVQLFKWGUHL*|WWLQQHQJDEVRQGHUQQXUHLQHª
©:lKUHQG XQVHUHV 6WXGLXPV GHV /XQD=\NOXV KDEHQ ZLU HV PLW GHQ lWKHULVFKHQ %HGLQJXQJHQ ]X WXQ QLFKW PLW GHQ SK\VLVFKHQ 'HU 0DJQH WLVPXVDOOHUOHEHQGHQ*HVFK|SIHLVWIHVWHQ*H]HLWHQIROJHQG]X RGHU DEQHKPHQG'DVOlWVLFKXQVFKZHUIHVWVWHOOHQVREDOGPDQVLFKQlKHU GDPLW EHVFKlIWLJW $P GHXWOLFKVWHQ ]HLJW HV VLFK LQ ]ZLVFKHQPHQVFK OLFKHQ%H]LHKXQJHQ%HLP0HQVFKHQLVWGHU0DJQHWLVPXVUHODWLYVWDELO 0DQFKPDO LVW GHU 0DJQHWLVPXV GHV HLQHQ 3DUWQHUV ]XQHKPHQG PDQFKPDOGHUGHVDQGHUHQ
1XQ N|QQWH PDQ VLFK IUDJHQ ZDUXP GLH 6SKlUH -HVRGV lWKHULVFKHU 1DWXU LVW ZHQQ LKU GRFK GLH )RUWSIODQ]XQJVRUJDQH ]XJHRUGQHW ZHUGHQ GLH MD RKQH =ZHLIHO HLQH SK\VLVFKH )XQNWLRQ KDEHQ 'LH $QWZRUW DXI GLHVH)UDJHILQGHQZLULQGHQVXEWLOHQ%HUHLFKHQGHV6H[GLHRIIHQVLFKW OLFK LQ GHU ZHVWOLFKHQ :HOW Y|OOLJ LQ 9HUJHVVHQKHLW JHUDWHQ VLQG 0DQ N|QQWH >GHQ 6H[@ PLW HLQHP (LVEHUJ YHUJOHLFKHQ YRQ GHP VLFK IQI 6HFKVWHO XQWHU GHU :DVVHUREHUIOlFKH EHILQGHQ 'LH SK\VLVFKHQ $VSHNWH GHV 6H[ VSLHOHQ HLQH XQWHUJHRUGQHWH 5ROOH 6LH VLQG NHLQHVZHJV GHU ZLFKWLJVWH7HLOª
:LUKDEHQHVKLHUPLWGHU=HXJXQJVNUDIWGHU1DWXU]XWXQGLHGLH &KHPLHXQVHUHV HLJHQHQ .|USHUVVRZLHDXFKGHVJU|HUHQ.|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lWKHULVFKHQRGHUDVWUDOHQ:HOWGLHGLH 6WDELOLWlWGHUPDWHULHOOHQ:HOWDXIUHFKWHUKlOWXQGGLHXQVLFKWEDUHQ 0RGHOOH IU DOOH NRQNUHWHQ 'LQJH OLHIHUW ZHOFKH QXU GXUFK 9HUlQGHUXQJ GHU XQVLFKWEDUHQ $VWUDOLHOGHU XQGELOGHU YHUlQGHUW ZHUGHQ N|QQHQ ,Q GLHVHP =XVDPPHQKDQJ VLQG DXFK GLH PRGHUQHQ7KHRULHQEHU6WUDKOXQJVHQHUJLHDQ]XIKUHQ 'HU *RWWHVQDPH GLHVHU 6HSKLUDK LVW 6KDGGDL (O &KDL $OO PlFKWLJHU OHEHQGLJHU *RWW GHU +HUU GHU )RUWSIODQ]XQJ GLH *RWWKHLW GHV %HFNHQV $OV (U]HQJHO GLHVHU 6HSKLUDK ZLUG *DEULHO DQJHIKUWGHU+HOG*RWWHVGHUGLH6FKDUGHU(QJHOEHDXIVLFKWLJW ZHOFKH GLH,VKLPVLQG GLH©)ODPPHQª YRQGHQHQLP3VDOP GLH5HGHLVW'DVGLHVHU6HSKLUDKHQWVSUHFKHQGH(OHPHQWLVW/XIW DXI GHP PLWWOHUHQ 3IHLOHU DEZlUWVJHVSLHJHOW YRQ .HWKHU EHU 7LSKDUHWK XQG VFKOLHOLFK ]X-HVRG GHU 6SKlUH GHU )RUWSIODQ]XQJ hEHUGLHVHV7KHPDVFKULHE'LRQ)RUWXQH
0DOKXWKGDV .|QLJUHLFK LVW GLH ]HKQWH XQG OHW]WH (PDQDWLRQ LQ XQVHUHU NDEEDOLVWLVFKHQ 5HJLVWUDWXU GHU QLHGHUH 5HSUlVHQWDQW YRQ %LQDK ,P 6RKDL ZLUG GLHVH 6HSKLUDK DOV GLH 1LHGHUH 0XWWHU 0DONDK GLH .|QLJLQ XQG .DOODK GLH %UDXW GHV 7HWUDJUDPPD WRQV EH]HLFKQHW (LQLJH 6\PEROH EHVFKUHLEHQ 0DONXWKDOV HLQ 7RU GDV 7RU GHV 7RGHV GDV 7RU GHU 7UlQHQ XQG VRJDU DOV GDV 7RU GHU 7RFKWHU GHU 0lFKWLJHQ (LQLJH GLHVHU 1DPHQ VLQG PLW GHQ ZXQGHUYROOHQ XQG NODQJYROOHQ 7LWHOQ GHU 7DURWNDUWHQ LGHQWLVFK 0DONXWK LVW NHLQH JHVFKORVVHQH 6SKlUH VLH IKUW LPPHU ]XU K|KHUHQ RGHU LQQHUHQ 6HSKLURWK GDV 7RU LVW LPPHU JH|IIQHW VRIHUQ ZLU GLHV QXU ]X HUNHQQHQ YHUP|JHQ 6LH ZLUG DXFK ©'LH -XQJIUDX GHU :HOWª JH QDQQW XQG HLQLJH DOFKLPLVWLVFKH 6FKULIWHQ EHVFKUHLEHQ VLH GH WDLOOLHUWDOVGHQ$XVJDQJVVWRIIGHV*URHQ:HUNV 'HU*RWWHVQDPHGLHVHU6HSKLUDKLVW$GRQDLKD$UHWV+HUUGHU
D55DQNH*UDYHV*ULHFKLVFKH0\WKRORJLH 5HLQEHN6
')RUWXQHDD26
0DONXWK
(UGH,KU(U]HQJHOLVW6DQGDOSKRQXQGLKU&KRUGHU(QJHOVROOHQGLH &KHUXELPVHLQGLH%HKHUUVFKHUGHU(OHPHQWH9RUDOOHPDQGHUHQLVW GLHVGDV5HLFKGHV(OHPHQWV(UGHREJOHLFKYLHOH'DUVWHOOXQJHQGHV /HEHQVEDXPVGLH6SKlUHYRQ0DONXLKLQYLHU%HUHLFKHDXIWHLOHQGLH GLH YLHU (OHPHQWH UHSUlVHQWLHUHQ 'LHVH 6HSKLUDK DXI GHP /HEHQVEDXP V\PEROLVLHUW GLH 0DWHULH XQG GLH PDWHULHOOH :HOW VHOEVW'U:HVWFRWWVFKULHE ©'LH .DEEDOD OHKUW XQV GD PDQ GLH GHP $XJHQVFKHLQ HQWVSUHFKHQGH 9RUVWHOOXQJ YRQ GHU 0DWHULH DOV YRP J|WWOLFKHQ *HLVW JHWUHQQW Y|OOLJ DXIJHEHQPX'LH9HUVLFKHUXQJGD0DWHULHH[LVWLHUWXQGGDVLHHLQH :HVHQKHLW LVW GLH VLFKY|OOLJ YRP J|WWOLFKHQ*HLVW XQWHUVFKHLGHWXQG GDGHU*HLVW GHU*RWWGHU*HLVWHU VLHVFKXIPXDEJHOHKQWZHUGHQ XQG GLHVH 9RUVWHOOXQJ PX PLW GHQ:XU]HOQ DXVJHPHU]W ZHUGHQ EHYRU HLQ )RUWVFKULWW P|JOLFK LVW :HQQ 0DWHULH H[LVWLHUW VR LVW VLH HWZDV XQG PXYRQHWZDVVWDPPHQGRFKGHU*HLVWLVWNHLQ'LQJXQGGHUNUHDWLYH *HLVW GLH K|FKVWH VSLULWXHOOH ,GHH N|QQWH GLH 0DWHULH GLH QLHGULJVWHQ 'LQJH QLFKWDXVQLFKWVHU]HXJHQGHVKDOEZLUGVLHQLFKWHU]HXJWXQG GHVKDOEJLEWHVDXFKNHLQH0DWHULH$OOHVLVW*HLVWXQG,GHH ([QLKLOR QLKLO ILW $OOHV ZDV H[LVWLHUW NDQQ QXU YRP *HLVW YRP *|WWOLFKHQ :HVHQ VWDPPHQ 6HLQ NDQQ XQP|JOLFK DXV 1LFKW 6HLQ KHUYRUJHKHQ 'D 0DWHULH VLFK VHOEVW HUVFKDIIHQ N|QQHQ VROO LVW DEVXUG 0DWHULH NDQQ QLFKW DXV GHP*HLVW KHUYRUJHKHQ GLHEHLGHQ:|UWHU EHGHXWHQGDGLHVH EHLGHQ ,GHHQ Y|OOLJ XQDEKlQJLJ YRQHLQDQGHUVLQG GH PQDFK NDQQ 0DWHULH QLFKW H[LVWLHUHQ 'DUDXV IROJWGD GDV ZDV ZLU DOV 0DWHULHEH]HLFK QHQ QXUHLQ$VSHNWHLQH9RUVWHOOXQJHLQH,OOXVLRQHLQH$UWYRQ%H ZHJXQJ HLQH7lXVFKXQJXQVHUHUSK\VLVFKHQ6LQQHLVWª
.RU]\EVNL GHU :HJEHUHLWHU GHU DOOJHPHLQHQ 6HPDQWLN KlWWH GLHV >ZRKOGDVLPRELJHQ=LWDW.ULWLVLHUWH$QPGhEHUV@DOVEHUKROWHV DULVWRWHOLVFKHV 'HQNHQ EH]HLFKQHW (LQ PRGHUQHU 0\VWLNHU 9LWYDQ KDW YHUVXFKW GLH DOOJHPHLQH 6HPDQWLN RGHU GDV QLFKW DULVWRWHOLVFKH 'HQNHQ PLW GHU XUDOWHQ :HLVKHLW ]X YHUELQGHQ (U KDW HLQLJH IDV]LQLHUHQGH XQG KRFKNUHDWLYH .RQ]HSWH IRUPXOLHUW *UXQGOHJHQG IU VHLQH ,GHHQ LVW GHU %HJULII GHU ,GHQWLWlW ©GLH ,GHQWLILNDWLRQ YRQ %LOGHUQ GLH PDWHULHOO LQ GHU SV\FKLVFKHQ 1DWXU HLQHV 0HQVFKHQ HUVFKHLQHQ PLW GHP ZRYRQ 6WLPXOL (QHUJLH :HOOHQOlQJHQXQG)UHTXHQ]HQ HPSIDQJHQZHUGHQª
©+LHULQ OLHJW GHU EHUUDJHQGH :HUW EHZXWHQ $EVWUDKLHUHQV GHQQ GXUFK GLHVHQ3UR]H OHUQWPDQ ]ZLVFKHQHLQHP%LOGLQGHU3V\FKHXQG .RQILJXUDWLRQHQ YRQ (QHUJLHHLQKHLWHQ GLH GLHVH :HOW DXVPDFKHQ ]X GLIIHUHQ]LHUHQ 3ODWR EH]HLFKQHWH GDVZDV ZLU KLHUDOV .RQILJXUDWLRQHQ EH]HLFKQHQDOV©)RUPHQ
(EHQVR ZLH DXI GHU SKRWRJUDSKLVFKHQ 3ODWWH HLQHU .DPHUD HLQ %LOG HUVFKHLQW ZHUGHQ (QHUJLHZHOOHQOlQJHQ XQG (QHUJLHIUHTXHQ]HQ LQ GHQ PHQWDOHQ )XQNWLRQHQ GHU 3V\FKH HLQHV 0HQVFKHQ ]X HLQHP %LOG ]XVDP PHQJHIDW :HQQ GLHVHV %LOG DXIJUXQG YRQ XQWHUVFKLHGOLFKHQ QHXUDOHQ XQG JHKLUQHLJHQHQ 3UR]HVVHQ DOV GRUW GUDXHQ HUVFKHLQW GDV KHLW PDWHULHOO VR ZLUG HV PLW HLQHU EHVWLPPWHQ .RQILJXUDWLRQ YRQ (QHUJLH HLQKHLWHQ LGHQWLIL]LHUW YRQ ZHOFKHQ 6WLPXOL HPSIDQJHQ ZHUGHQ XQG GDUDXIKLQ ZLUG MHQHV DOV PDWHULHOO HUVFKHLQHQGH %LOG LQ GHU 3V\FKH DOV 'LQJ!©2EMHNWXVZEH]HLFKQHW ,Q GHU *HVDPWKHLW ELOGHW GLHVH )RUPXOLHUXQJ =XVDPPHQIDVVXQJ YRQ (LJHQVFKDIWHQ ]X PHQWDOHQ %LOGHUQ GDV ZDV ZLU ©GLH REMHNWLYH :HOW QHQQHQ 'LHVH ,GHQWLILNDWLRQ VRZLH GHU *ODXEH DQ GLHVHOEH LVW GDV ZDV ZLUDOV©GHQ,UUWXPEH]HLFKQHQ
0LW GHP LQWHOOHNWXHOOHQ ,UUWXP YRQ GHP 9LWYDQ KLHU VSULFKW EHVFKlIWLJHQ VLFK YLHOH PHWDSK\VLVFKH 6\VWHPH HLQVFKOLHOLFK GHU &KULVWOLFKHQ :LVVHQVFKDIW VRZLH GHV 9HGDQWD QlPOLFK PLW GHU 7lXVFKXQJGHU0DWHULH 'LHV HQWVSULFKW GHU LQGLVFKHQ ,GHH GD GLH :HOW 0D\D 7lX VFKXQJ LVW 6LH ZLUG DXFK LQ :HVWFRWWV ,QWHUSUHWDWLRQ GHU 1LFKW ([LVWHQ] GHU 0DWHULH EHWRQW ZDV ]ZHLIHOORV PLW GHU 9HUELQGXQJ GLHVHV $XWRUV ]X 0DGDPH + 3 %ODYDWVN\ XQG GHU |VWOLFKHQ 6FKXOH GHU(VRWHULN]XVDPPHQKlQJW 'DV :LFKWLJVWH ZDV VLFK DXV GHP *HVDJWHQ DEOHLWHQ OlW LVW GD 0DONXWKGLH ]HKQWH 6HSKLUDK GDV *|WWOLFKH .|QLJUHLFK LVW 'LH:HOWLQGHUZLUOHEHQ LVWHLQHJ|WWOLFKH :HOWXQGQXULQIROJH GHV =XVWDQGHV VSLULWXHOOHU %HQHEHOXQJ LQ GHP ZLU OHEHQ LQIROJH GHU %OLQGKHLW XQVHUHV *HLVWHV GLH LKUHUVHLWV DXI GHU %HJUHQ]WKHLW XQVHUHU 6LQQH EHUXKW YHUP|JHQ ZLU GLH :HOW QLFKW DOV GHQ OH EHQGLJHQ.|USHU*RWWHV]XHUNHQQHQ 1XU .LQGHU /LHEHQGH XQG YLHOH .QVWOHU 'LFKWHU XQG 0DOHU XQGVFKOLHOLFKGLH0\VWLNHUKDEHQ0DONXWKVR]XVHKHQYHUVWDQGHQ ZLHGLHVH6HSKLUDKZLUNOLFKLVWXQGQLFKWDOVWRWHOHHUH+OOH
,,,0HGLWDWLRQ
$(:DLWH7KH6HFUHW'RFWULQHLQ,VUDHO 6HSKHU
'D YLHOH GHU /LWHUDWXUHPSIHKOXQJHQ 5HJDUGLHV ELVKHU QRFK QLFKW LQ GHXW VFKHU hEHUVHW]XQJ YRUOLHJHQ IROJHQ QXQ QRFK HLQLJHLQ 'HXWVFKODQGHU KlOWOLFKH:HUNH )UDQ]%DUGRQ'HU6FKOVVHO]XUZDKUHQ4XDEEDODK 5JJHEHUJ
+HLQULFK ( %HQHGLNW 'LH .DEEDODK DOV MGLVFK FKULVWOLFKHU (LQZHL KXQJVZHJ)UHLEXUJL%U+%DXHU 5XIXV*&DPSKDXVHQ6SLHJHOGHV/HEHQV %DVHO6SKLQ[9HUODJ
+DQV 'LHWHU /HXHQEHUJHU 6FKXOH GHV 7DURW LQVEHVRQGHUH%DQG ,, ©'HU %DXPGHV/HEHQVª)UHLEXUJL%U%DXHU9HUODJ -HII /RYH 'LH 4XDQWHQJ|WWHU 8UVSUXQJ XQG 1DWXU YRQ 0DWHULH XQG %H ZXWVHLQ5HLQEHNURURURWUDQVIRUPDWLRQ 3DSXV'LH.DEEDOD:LHVEDGHQR-)RXULHU
$ODQ 5LFKDUGVRQ (LQKUXQJ LQ GLH P\VWLVFKH .DEEDOD %DVHO 6SKLQ[9HUODJ
.DWMD:ROII'HUNDEEDOLVWLVFKH%DXP 0QFKHQ.QDXU7%
4%/VWHKWKLHUIU.DEEDOD$QPGhEHUV
(LQHPRGHUQH$QQlKHUXQJ DQHLQHXUDOWH:LVVHQVFKDIWXQG.XQVW
,Q HLQHP VHLQHU YLHOHQ %FKHU KDW GHU YHUVWRUEHQH 3DXO)RVWHU &DVH ZRKO GLH JU|WH PRGHUQH $XWRULWlW EH]JOLFK GHU 7UDGLWLRQHQ GHV 7DURW XQG GHU .DEEDOD HLQH SHUV|QOLFKH (UIDKUXQJ PLW .RQ]HQ WUDWLRQ XQG 0HGLWDWLRQ EHVFKULHEHQ (U EHULFKWHW HU KDEH ]HKQ 0RQDWH ODQJ PLQGHVWHQV ]ZHLPDO WlJOLFK HLQH KDOEH 6WXQGH .RQ]HQWUDWLRQ JHEW RKQH GD LUJHQGZHOFKH JUHLIEDUHQ (UJHEQLVVH DXIJHWUHWHQVHLHQ7URW]GHPDUEHLWHWHHUJHGXOGLJZHLWHU(WZD]HKQ 0RQDWHVSlWHUVWHOOWHQVLFKHQGOLFKGLHHUVWHQ5HVXOWDWHHLQ6HLQH %HPKXQJHQ KDWWHQ VLFK JHORKQW (U KDWWH GLH *HGXOG XQG GLH $XVGDXHU DXIJHEUDFKW HLQH 'LV]LSOLQ GXUFK]XKDOWHQ 6R VWXPSIVLQQLJ HUPGHQG XQG ODQJZHLOLJ HLQH VROFKH WlJOLFKH hEXQJ DXFK VHLQNDQQGXUFKVLHEHZLHVHUVHLQH+LQJDEHDQGDV *URH:HUN $OOHQ GLH YHUVXFKHQ GLH 3UR]HVVH LKUHV *HLVWHV ]X PHLVWHUQ HUJHKW HV QLFKW YLHO DQGHUV ,FK N|QQWH XQ]lKOLJH %HLVSLHOH KLHUIU DQIKUHQGRFKVROOGDVREHQ(UZlKQWHJHQJHQ hEHU GLHVHV 7KHPD LVW PHKU JHVFKULHEHQ ZRUGHQ DOV EHU IDVW MHGHV DQGHUH PLU EHNDQQWH PLW $XVQDKPHGHU 0DJLH 6XFKHQGH ZHUGHQ GXUFK GLH XQ]lKOLJHQ %FKHU EHU ©6XFKH QDFK GHU 6WLOOHª GDV ©:DQGHOQ DP JHKHLPHQ 2UW GHV $OOHUK|FKVWHQª XQG EHU ©WUDQV]HQGHQWDOH0HGLWDWLRQªVRZLHGXUFKYLHOHDQGHUHVFKZO
VWLJH 3KUDVHQ LUUHJHOHLWHW 1XU ZHQLJH GLHVHU 3XEOLNDWLRQHQ ZHLVHQ GDUDXI KLQ GD GLH ZLFKWLJVWHQ )DNWRUHQ GLHVHU .XQVW 'LV]LSOLQ XQG EHVWlQGLJH hEXQJ VLQG $XVVDJHQ EHUGLH1DWXU*RWWHVXQG EHU GLH J|WWOLFKH *QDGH VRZLH GLH VFKLHU XQHQGOLFKH =DKO PHWD SK\VLVFKHU 9DULDWLRQHQ EHU GLHVH 7KHPHQ IKUHQ RKQH WlJOLFKH hEXQJ GHU .RQ]HQWUDWLRQ OHW]WOLFK QLUJHQGZRKLQ JDQ] JOHLFK ZLH RIW XQG LQ ZLH YLHOHQ 9DULDQWHQ GHUDUWLJH 7KHRULHQ YHU|IIHQWOLFKW ZHUGHQP|JHQ 'LH PHLVWHQ 0HQVFKHQ GLH YRQ VLFK EHKDXSWHQ VLH ZUGHQ PHGLWLHUHQWUlXPHQLQ:LUNOLFKNHLWQXUYRUVLFKKLQHLQ=XVWDQGLQ GHQPDQOHLGHUVHKUOHLFKWKLQHLQJHUlW6LHJHEHQVLFK7UlXPHUHLHQ KLQZRGXUFKVLHVRJXWZLHQLFKWVHUUHLFKHQDEJHVHKHQGDYRQGD LKQHQ GLHV ]HLWZHLOLJ HLQ ªJXWHV *HIKOª YHUVFKDIIW 'RFK GLHVHU =XVWDQG LVW ZHGHU .RQ]HQWUDWLRQ QRFK 0HGLWDWLRQ XQG YRQ NHLQHUOHLHVVHQWLHOOHP:HUW *HOHJHQWOLFK K|UH LFK YRQ MHPDQGHP HU ZROOH VLFK IU HLQ SDDU 7DJH ]XUFN]LHKHQ XQG GLHVH =HLW PLW *HEHW XQG 0HGLWDWLRQ YHUEULQJHQ RKQHGDHUVLFK]XYRUDXILUJHQGHLQH:HLVHDXIGLHVHV 9RUKDEHQ YRUEHUHLWHW KlWWH ,FK KDEH PLFK LPPHU JHIUDJW ZDV ZlKUHQG GHU WlJOLFKHQ VHFK]HKQ 6WXQGHQ LQ GHQHQ VLFK VROFKH 0HQVFKHQ GDQQ DQJHEOLFK GHU 0HGLWDWLRQ ZLGPHQ WDWVlFKOLFK LQ LKUHP*HLVWHYRUJHKW 1DFKGHP LFK YLHOH -DKUHODQJ 0HQVFKHQ DXVDOOHQ.UHLVHQXQG $XVEHQGH GHU PHLVWHQ %HUXIH SV\FKRORJLVFK EHUDWHQ KDEH ELQ LFK PLU VLFKHU GD GLH PHLVWHQ YRQ LKQHQ NHLQHUOHL %HJDEXQJ IU DXFK QXU GLH REHUIOlFKOLFKVWH .RQ]HQWUDWLRQ KDEHQ 5HFKWVDQZlOWH %XFKKDOWHU ,QJHQLHXUH bU]WH XQG $XVEHQGH lKQOLFKHU %HUXIH PVVHQ VLFKHUOLFK HLQH JHZLVVH .RQ]HQWUDWLRQVIlKLJNHLW HQWZLN NHKL GLH -DKUH GHV 6WXGLXPV XQG GHU LQWHOOHNWXHOOHQ 9RUEHUHLWXQJ DXI LKUHQ %HUXI HUIRUGHUQ GLHV QXQ HLQPDO 'RFK LVW GLHVH JHLVWLJH )lKLJNHLW EHL LKQHQ QXU IXQNWLRQVIlKLJ VRODQJH VLH VLH LQ HLQHP UHODWLYXQHLQJHVFKUlQNWHQPHQWDOHQ )HOG DQZHQGHQ:LUGKLQJHJHQ GHU *HLVW VROFKHU 0HQVFKHQ JH]ZXQJHQ VLFK EHLVSLHOVZHLVH DXI HLQ HLQ]LJHV 6\PERO ]X NRQ]HQWULHUHQ VR ZLUG GLH 6FKZlFKH VRJOHLFKVLFKWEDU6LHLVWVHKUYHUEUHLWHWXQGHLQLQWHJUDOHU%HVWDQGWHLO XQVHUHU.XOWXU
*HLVWHVWUDLQLQJ
:LH GLH 0HQVFKHQ GLH 1RWZHQGLJNHLW GHU .RQ]HQWUDWLRQ HQWGHFNW KDEHQ ©XP GHQ 6FKZDQNXQJHQ GHV 'HQNHQV ]X EHJHJQHQª OlW VLFK OHLFKW YRUVWHOOHQ ,FK QHKPH DQ GD VLH EHL 7lWLJNHLWHQ MHGHU $UW GLH +LQJDEH HUIRUGHUQ EHL GHU N|USHUOLFKHQ /LHEH EHLP %HWHQ ]X HLQHU *RWWKHLW RGHU EHL GHU $UEHLW DQ HLQHU VHOEVWJHVWHOOWHQ $XIJDEH HQWGHFNWHQ ZLH OHLFKW GHU *HLVW DEVFKZHLIW XQG GDQQ LPJHVDPWHQ8QLYHUVXPXPKHULUUW %HL XQWUDLQLHUWHQ 0HQVFKHQ VWHOOW VLFK QXU LQIROJH HLQHU VWDUNHQ (PRWLRQ VSRQWDQ HLQ JHZLVVHU *UDG DQ .RQ]HQWUDWLRQ HLQ 'DEHL PX HV VLFK XP HLQ VHKU LQWHQVLYHV *HIKO KDQGHOQ XQG HLQ VROFKHV NDQQ ZRKO NDXP MHPDQG ©DXI .RPPDQGRª SURGX]LHUHQ /LHEH :XW (LIHUVXFKW XQG 1HLG YHUP|JHQ DOOH DQGHUHQ *HGDQNHQ XQG*HIKOHDXVGHP*HLVW]XYHUEDQQHQ (LQZHLWHUHU)DNWRUGHUVSRQWDQ.RQ]HQWUDWLRQHU]HXJHQNDQQLVW HLQHVHKULQWHQVLYHSK\VLVFKH(PSILQGXQJ JDQ]JOHLFKREHVVLFK GDEHL XP HLQH VFKPHU]KDIWH RGHU XP HLQH OXVWYROOH (PSILQGXQJ KDQGHOW,FKQHKPHDQGDSUDNWLVFKMHGHULUJHQGZDQQVFKRQHLQPDO .RSIVFKPHU]HQ =DKQVFKPHU]HQ RGHU 6FKPHU]HQ LQ DQGHUHQ .|USHUEHUHLFKHQJHKDEWKDWGLHVRLQWHQVLYZDUHQGDDOOHDQGHUHQ *HGDQNHQDQGLH3HULSKHULHGHV*HLVWHVUFNWHQ 'LHVH EHLGHQ 7DWVDFKHQ VLQG EHVRQGHUV ZLFKWLJ /HW]WOLFK NDQQ PDQ VLH GD]X QXW]HQ GHQ *HLVW DEVLFKWOLFK ]X NRQ]HQWULHUHQ XQG GDQQ]XPHGLWLHUHQ :DUXPPHGLWLHUHQ"
'RFK ZDUXP VROOWH PDQ VLFK EHUKDXSW GLH 0KH PDFKHQ ]X QlFKVW ]X OHUQHQ VLFK ]X NRQ]HQWULHUHQ XQG GDQQ ]X PHGLWLHUHQ" :DUXP VROOWH PDQ VLFK PLW HLQHU VR VFKZLHULJHQ $XIJDEH EHU KDXSW DEPKHQ" $XI GLHVH )UDJH JLEW HV VR YLHOH XQWHUVFKLHGOLFKH $QWZRUWHQ ZLH HV JUXQGOHJHQG XQWHUVFKLHGOLFKH $QWULHEH JLEW GLH 0HQVFKHQPRWLYLHUHQN|QQHQ 'HU HLQH 0HQVFK VWUHEW QDFK 0DFKW GHU DQGHUH VXFKW )ULHGHQ XQG %HIUHLXQJ YRQ VHLQHU LQQHUHQ $QVSDQQXQJ HLQ GULWWHU VHKQW VLFK QDFK /LHEH XQG PHKU .UHDWLYLWlW $OOH GLHVH 0RWLYH KDEHQ LKUH %HUHFKWLJXQJGHQQVLHDOOHVLQGOHW]WOLFK)DFHWWHQHLQHVHLQ]LJHQ
JUXQGOHJHQGHQ (UJHEQLVVHV 'HQQ 0HGLWDWLRQIKUW ]XU (UODQJXQJ VSLULWXHOOHU 0DFKW ]X )ULHGH XQG )UHXGH XQG ]X HLQHU (UZHLWHUXQJ GHU )lKLJNHLW GHV 0HQVFKHQ VLFK LQ /LHEH XQG 6FK|SIHUNUDIW DXV ]XGUFNHQ 'DV SULPlUH 0RWLY LVW DOVR GLH 6HOEVWHQWGHFNXQJ XQG 6HOEVWYHUZLUNOLFKXQJ )U HLQHQ &KULVWHQ LVW 0HGLWDWLRQ GLH LGHDOH 0HWKRGH GHQ &KULVWXVLP HLJHQHQ ,QQHUHQ ]X HQWGHFNHQ GHP &KULVWNLQGLQGHU HLJHQHQ 6HHOH ]XU *HEXUW ]X YHUKHOIHQ )U HLQHQ +LQGX LVW 0H GLWDWLRQ GHU NODVVLVFKH 3IDG ]XP *HZDKUZHUGHQ $WPDQV GHV 8QLYHUVDOHQ 6HOEVW XQG VHLQHU HVVHQWLHOOHQ ,GHQWLWlW PLW %UDKPDQ (LQHP %XGGKLVWHQ ZLUG GLH 0HGLWDWLRQVSUD[LV KHOIHQ VLFK GHU HLJHQHQ %XGGKD1DWXU EHZXW ]X ZHUGHQ GHU 7UDQV]HQGHQWDOHQ :HLVKHLWGHU(VVHQ]GHV*HLVWHVGLHZHVHQVPlLJUHLQLVW 'LHVH (QWGHFNXQJVUHLVH NDQQ DXI YLHOHQ :HJHQ DQJHWUHWHQ ZHUGHQ GRFK VLQG .RQ]HQWUDWLRQ XQG 0HGLWDWLRQ GDEHL LQ MHGHP )DOOGLHZLFKWLJVWHQ0HWKRGHQ 'LH0DFKWGHU0HGLWDWLRQ
.RQ]HQWUDWLRQ LVW HLQH 0HWKRGH GLH VHLW ODQJHP YRQ HLQLJHQ GHU JU|WHQ VSLULWXHOOHQ *LJDQWHQ EHQXW]W ZXUGH GLH GLH VLFK HQWIDO WHQGH*HVFKLFKWHGHU0HQVFKKHLWJHVHJQHWKDEHQ ,PPHU ZLHGHU JHVFKLHKW HV GD HLQ 0HQVFK SUDNWLVFK HLQ 1LHPDQG GDYRQJHKW XQG GD QLHPDQG ZHL ZDUXP HU ZHJJH JDQJHQ LVW XQG ZRKLQ HU JHJDQJHQ LVW 1DFK HLQLJHQ -DKUHQ NHKUW HU Y|OOLJ YHUlQGHUW LQ VHLQ +HLPDWODQG RGHU LQ VHLQH +HLPDWVWDGW ]XUFN(ULVWHUOHXFKWHW(WZDV0HUNZUGLJHVXQG:XQGHUEDUHVLVW PLWLKPJHVFKHKHQ(LQH$WPRVSKlUHUXKLJHUDEHUJOHLFK]HLWLJDXFK NUDIWYROOHU $XWRULWlW XPJLEW LKQ :HLWKLQ ZLUG HUNDQQW GD GHU 0DQWHO GHU ,QVSLUDWLRQ LKQ XPKOOW 8QYHU]JOLFK EHJLQQW HU HLQ QHXHV *HVHW] ]X YHUNQGHQ HLQH QHXH /HKUH HLQH QHXH $UW VLFK GHP J|WWOLFKHQ 0\VWHULXP ]X QlKHUQ GHP :HVHQ GHV LQQHUVWHQ .HUQVGHV0HQVFKHQ'LHVHUQHXH:HJYHUVSULFKW)UHXGHLQV/HEHQ ]X EULQJHQ XQG $QJVW XQG /HLGHQ ]X YHUEDQQHQ 0DQ K|UW DOOHQWKDOEHQGDGHUQHXH:HJGHQ0HQVFKHQPLWGHQNRVPLVFKHQ 4XHOOHQ GHU 0DFKW GHU .UDIW XQG GHU :HLVKHLW YHUELQGH (V ZLUG DXVGUFNOLFKYHUVLFKHUWGDGLHVHLQ:HJIUDOOH0HQ
VHKHQ QLFKW QXU IU HLQLJH ZHQLJH VHL VR GD DOOH0HQVFKHQ GDV =LHOHUUHLFKHQN|QQWHQ ,QGHP VLH GLHV OHKUHQ VWRFKHUQ GLHVH ELVODQJ 8QEHNDQQWHQ LQ HLQHP +RUQLVVHQQHVW XQG ZlKUHQG VLH ULHVLJH 6FKDUHQ YRQ $Q KlQJHUQ XQG *OlXELJHQ XP VLFK YHUVDPPHOQ VHW]HQ VLH VLFK JOHLFK]HLWLJ GHU *HIDKU DXV YRQ GHQ HWDEOLHUWHQ XQG DOWHLQJHVHV VHQHQ $XWRULWlWHQ OlFKHUOLFK JHPDFKW RGHU JDU YHUIROJW ]X ZHUGHQ 0DQ EUDXFKW VLFK QXU HLQ ZHQLJ PLW GHQ /HEHQVJHVFKLFKWHQ YRQ 0RVHV %XGGKD -HVXV XQG 0RKDPPHG ]X EHVFKlIWLJHQ GLHV VLQG QXU HLQLJH JURH 1DPHQ GLH PLU KLHU]X VRIRUW HLQIDOOHQ XP GLH 8QLYHUVDOLWlW GLHVHV GUDPDWLVFKHQ 7KHPDV ]X HUNHQQHQ 8QG LP 0LWWHOSXQNW GLHVHU SHULRGLVFKHQ $XIUWWHOXQJ GHU 0HQVFKKHLW VWHKW GLH hEXQJ GHU .RQ]HQWUDWLRQ XQG 0HGLWDWLRQ GLH PDQFKPDO DXFKDOVLQQHUHV*HEHWEH]HLFKQHWZLUG :HQQ PDQ HLQPDO ]X GHU hEHU]HXJXQJ JHNRPPHQ LVW GD 0HGLWDWLRQ 'LV]LSOLQ HUIRUGHUW VROOWH PDQ HLQLJH JUXQGOHJHQGH 'LQJH EHDFKWHQ ,FK KDEH EHZXW VROOWHJHVDJW QLFKW PXZHLO GLH (UIRUGHUQLVVHYRQ0HQVFK]X0HQVFKYHUVFKLHGHQVLQG +DOWXQJ
1DFK $QVLFKW GHU %HZRKQHU GHV 2ULHQWV LVW GLH ULFKWLJH .|USHU KDOWXQJ HLQH ZLFKWLJH 9RUDXVVHW]XQJ IU GLH 0HGLWDWLRQ ,Q GHU |VWOLFKHQ /LWHUDWXU ZHUGHQ K|FKVW NRPSOL]LHUWH 3UR]HGXUHQ EH VFKULHEHQ GLH GD]X GLHQHQ GLH ULFKWLJH 0HGLWDWLRQVKDOWXQJ ]X ILQGHQ EHJOHLWHW YRQ SKDQWDVWLVFKHQ (UNOlUXQJHQ GDUEHU ZDV VLH SK\VLVFK EHZLUNHQ 0DQ VROOWH EHL DOO GHP EHGHQNHQ GD GLH
=ZHLIHOXQGbQJVWH
:HQQ 6LH HLQHQ 5DXP LQ ,KUHU :RKQXQJ RGHU LQ ,KUHP +DXV DXVVFKOLHOLFK ]XU 0HGLWDWLRQ EHQXW]HQN|QQHQVRLVWGDVQDWUOLFK VHKU ]X EHJUHQ 'DV $Q]QGHQ HLQHV 5lXFKHUVWlEFKHQV XQG HLQHU .HU]H KLOIW,KQHQYLHOOHLFKWVLFKLQHLQH6WLPPXQJ]XYHUVHW]HQLQ GHU HV ,KQHQ OHLFKWHU IlOOW VLFK DQ GLH VFKZHUH $UEHLW ]X PDFKHQ :HQQ 6LH MHGRFK NHLQHQ VSH]LHOOHQ 5DXP IU GLH 0HGLWDWLRQ KDEHQ XQG ZHQQ HV QLFKW P|JOLFK LVW HLQ 5lXFKHUVWlEFKHQ XQG HLQH .HU]HDQ]X]QGHQVRVROOWHQ 6LHGLHVQLFKWDOV+LQGHUQLVEHWUDFKWHQ RGHU ]X GHU hEHU]HXJXQJ JHODQJHQ GD ,KU 9RUKDEHQ GDPLW ]XP 6FKHLWHUQYHUXUWHLOWLVW 'LHVH OHW]WHUH $QVLFKW HUZHLVW VLFK EHL QlKHUHU %HWUDFKWXQJ JHZ|KQOLFK DOV 5DWLRQDOLVLHUXQJ DOV SV\FKLVFKHU $EZHKUPHFKD QLVPXV PLW GHP PDQ VLFK YRU GHQ XQ]lKOLJHQ =ZHLIHOQ EHU GLH HLJHQHQ (UIROJVP|JOLFKNHLWHQ VFKW]W RGHU YRU GHU $QJVW EHL GHP 9HUVXFK GDV 0HGLWLHUHQ ]X OHUQHQ ZHUGH QLH HWZDV KHUDXVNRP PHQ 0DQ PX XQEHGLQJW PLW VRYLHO (KUOLFKNHLW ZLH P|JOLFK DQ GLH6DFKHKHUDQJHKHQ *HQDXGDULQOLHJWGHU:HUWHLQHV/HKUHUV,VWHUREMHNWLYVRNDQQHU GHP hEHQGHQ KHOIHQ VLFK PLW VHLQHQ =ZHLIHOQ VHLQHU 8QHKU OLFKNHLW XQG VHLQHQ 5DWLRQDOLVLHUXQJHQ ]X NRQIURQWLHUHQ 'LHVH .RQIURQWDWLRQ ZLUG VHKU EHL GHU KDUWHQ XQG HUQVWKDIWHQ $UEHLW GHV hEHQV KHOIHQ :HQQ MHGRFK NHLQ /HKUHU HUUHLFKEDU LVW PX PDQ GHUDUWLJH 3UREOHPH DOOHLQH EHZlOWLJHQ ,Q MHGHP )DOO VSLHOHQ GHU 5DXP GHU :HLKUDXFK XQG GLH .HU]H NHLQH ZLFKWLJH 5ROOH 9LHO ZLFKWLJHULVWGDVVWHWLJHWlJOLFKHhEHQ 8P GLH 6FKZLHULJNHLWHQ PLW GHU %HVWlQGLJNHLW ]X PHLVWHUQ VROOWH VLFK GHU 6FKOHU HLQLJH EHNDQQWH 7DWVDFKHQ EHU GLH .RQ GLWLRQLHUXQJ ]XQXW]H PDFKHQ =XPLQGHVW HLQH GHU WlJOLFKHQ hEXQJVSHULRGHQ VROOWH RKQH MHGH $XVQDKPH MHGHQ 7DJ ]XU JOHLFKHQ =HLW VWDWWILQGHQ $XI GLHVH :HLVH JHZ|KQW VLFK VRZRKO GHU *HLVW DOV DXFK GHU .|USHU GXUFK GHQ 3UR]H GHU .RQGLWLRQLHUXQJ GDUDQ VLFK GHU VHOEVW DXIHUOHJWHQ 'LV]LSOLQ ]X XQWHUZHUIHQ :HQQ PDQ MHGHQ7DJ]XUJOHLFKHQ=HLWEWVRHQWVWHKWGDGXUFKHLQYRUWHLOKDIWHV SV\FKRORJLVFKHV0XVWHUGDVGHQ(UIROJEHJQVWLJW
'LH5ROOHGHUHWKLVFKPRUDOLVFKHQ9HUKDOWHQVUHJHOQ
$XWRULWlWHQDXIGHP*HELHWGHU0HGLWDWLRQJHKHQJHZ|KQOLFKDXFK DXI)UDJHQGHU(WKLNXQG0RUDOHLQ.RPSOL]LHUWH9HUKDOWHQVUHJHOQ ZHUGHQ GRJPDWLVFK IHVWJHOHJW 0DQ VDJW XQV GLHV VHLHQZLFKWLJH 9RUDXVVHW]XQJHQIUGLHEHYRUVWHKHQGH$UEHLW 7DWVlFKOLFK MHGRFK ZHUGHQ ZLU IHVWVWHOOHQ GD VLH NHLQHUOHL $XVZLUNXQJHQKDEHQ'HUhEHQGHVROOWHOHGLJOLFKYHUPHLGHQHWZDV ]X WXQ ZDV VHLQ PHQWDOHV XQG HPRWLRQDOHV *OHLFKJHZLFKW VW|UW GHQQ GDV ZUGH HV LKP QXU QRFK VFKZHUHU PDFKHQ VLFK ]X NRQ]HQWULHUHQ (V LVW RKQHKLQ VFKZLHULJ JHQXJ GHQ *HLVW ]X EH KHUUVFKHQ 6LFK IUDJZUGLJHU $NWLYLWlWHQ KLQ]XJHEHQ GLH GLH 7HQGHQ] KDEHQ GHQ *HLVW ]X EHVHW]HQ XQG GLH XQV WURW] EHVWHU $EVLFKWHQIHVVHOQLVWVLFKHUOLFKQLFKWHPSIHKOHQVZHUW 6W|UIDNWRUHQ
'HVKDOE NDQQ PDQ JHZLVVH ZLOONUOLFKH 5HJHOQ DXIVWHOOHQ XP GLH (QWZLFNOXQJ HLQHU +DOWXQJ ]X I|UGHUQ GLH 6FKZLHULJNHLWHQ P|JOLFKVW ZHLWJHKHQG DXVVFKDOWHW 6WlQGLJ PLW GHP 3DUWQHU ]X VWUHLWHQ LVW VLFKHUOLFK QLFKW HPSIHKOHQVZHUW :HQQ HLQ 6WUHLW XQ YHUPHLGOLFK LVW GDQQ VROOWH PDQ PLW DOOHP (QWKXVLDVPXV VWUHLWHQ XQG GLH 6DFKH HLQ IU DOOHPDO HUOHGLJHQ GDPLWGHU*HLVWVLFKQLFKW QRFK 6WXQGHQ VSlWHU GDPLW EHVFKlIWLJW 9RU DOOHP VROOWH PDQ MHQH $UW JHLVWLJHU $NWLYLWlW YHUPHLGHQ GLH DOV LQQHUHU 'LDORJ EH ]HLFKQHW ZLUG 'DPLW LVW GDV :LHGHUNlXHQ XQG *UEHOQ EHU GDV (UJHEQLVHLQHV 6WUHLWV JHPHLQWZHOFKHV GD]X IKUWGD PDQ VLFK VHOEVW EHVFKXOGLJW RGHU YHUXUWHLOW ZHLO PDQ DXI HLQH %HPHUNXQJ GHV DQGHUHQ QLFKW LQ HLQHU EHVWLPPWHQ :HLVH JHDQWZRUWHW KDW 'DV LVW XQSURGXNWLY XQG IKUW ]X QLFKWV GHVKDOE VROOWH PDQ HV YHU PHLGHQ :HQQ GLHV QLFKW P|JOLFK LVW VROOWH PDQ GLH LQQHUHQ 'LDORJH ]XPLQGHVW ODXW IRUPXOLHUHQ XQG VLH VR ]X HLQHP (QGH EULQJHQ (V LVW NHLQH 6QGH XQPLWWHOEDU YRU GHU hEXQJ HLQH 0DKO]HLW HLQ]XQHKPHQ,FKP|FKWH,KQHQHPSIHKOHQGLHVPLQGHVWHQVHLQPDO DXV]XSURELHUHQ'DQQZLUGVLFKGLH(UNHQQWQLVHQWZLFNHOQGDHV QLFKW JHUDGH I|UGHUOLFK IU GLH $XIPHUNVDPNHLW :DFKKHLW XQG %HJHLVWHUXQJEHLGHUhEXQJLVW(EHQVRVROOWHPDQGLH%H
GLQJXQJHQ XQWHUVXFKHQ GLH GLH 8PJHEXQJ XQG GDV $OOWDJVOHEHQ NHQQ]HLFKQHQXPLKUHQ:HUWRGHU1LFKW:HUWIHVW]XVWHOOHQ $XFK 6H[ NDQQ HV HLQLJHQ 0HQVFKHQ HUVFKZHUHQ VLFK ]X NRQ ]HQWULHUHQ ,Q GLHVHU +LQVLFKW VWLPPH LFK PLW &URZOH\ EHUHLQ =X GLHVHP 7KHPDZLUG HV HUVW GDQQ ZLUNOLFK NODUH *HGDQNHQ JHEHQ ZHQQ 6H[ VR]XVDJHQ ]X HLQHU VSRUWOLFKHQ 'LV]LSOLQ RGHU ]XU ©(UR WRORJLHª JHZRUGHQ LVW XQG QLFKW LP JHULQJVWHQ PHKU PLW HWKLVFKHQ XQG PRUDOLVFKHQ $QVFKDXXQJHQ LQ 9HUELQGXQJ JHEUDFKW ZLUG (LQ DXIJHNOlUWHU JHVXQGHU 0HQVFKHQYHUVWDQG XQG .HQQWQLV HLQLJHU GHUOLEHUDOHQ$QVFKDXXQJHQPRGHUQHU3V\FKRORJHQXQG6R]LRORJHQ ZHUGHQVHKUGDEHLKHOIHQHLQHJHVXQGH(LQVWHOOXQJ]XU6H[XDOLWlW XQGLKUHU:LUNXQJ]XHQWZLFNHOQ 5HOLJLRVLWlW
$XFK 5HOLJLRVLWlW ZLUG RIW DOV XQYHU]LFKWEDUH 9RUDXVVHW]XQJ IU GLH3UD[LVGHU0HGLWDWLRQJHQDQQW'RFKWULIIWGLHVKHXWHLQZHLWDXV JHULQJHUHP 0DH ]X DOV MHPDOV ]XYRU LQ GHU *HVFKLFKWH (LQ $JQRVWLNHU RGHU $WKHLVW NDQQ 0HGLWDWLRQ HEHQVR HUIROJUHLFK SUDNWL]LHUHQ ZLHHLQ0HQVFKGHU]X*RWWXP+LOIHEHWHWRGHUGHU EHKDXSWHW DOOH $EOHQNXQJHQ HQWVWQGHQ DXV 0DQJHO DQ +DUPRQLH PLW GHP :HVHQ *RWWHV 6ROFKH 0HQVFKHQ JODXEHQ LQGHP VLH XP GLH *QDGH *RWWHV ElWHQ N|QQWHQ VLH GHQ =XVWDQG GHU .RQ]HQ WUDWLRQ OHLFKWHU HUUHLFKHQ 5HOLJLRVLWlW LVW IXQGLHUWHU XQG SUR GXNWLYHU ZHQQ VLH GDV (UJHEQLV P\VWLVFKHU (UIDKUXQJ LQIROJH PHGLWDWLYHU 3UD[LV LVW DOV ZHQQ VLH VLFK LQ )RUP HLQHU ]ZDQJ KDIWHQ9RUZHJQDKPHlXHUWGLHDQJHEOLFKGLH0HGLWDWLRQI|U GHUQ VROO 'LH hEXQJ IKUW ]X P\VWLVFKUHOLJL|VHQ (UJHEQLVVHQ YRQ GHQHQ DXFK $JQRVWLNHU XQG $WKHLVWHQ SURILWLHUHQ N|QQHQ VR GD VLH GHPHQWVSUHFKHQG LQ LKUHU (QWZLFNOXQJ IRUWVFKUHLWHQ 9RUZHJJHQRPPHQH VRJHQDQQWH hEHU]HXJXQJHQ VLQG SUDNWLVFK ZHUWORV ZHQQ VLH QLFKW YRQ WLHIHU LQQHUHU *HZLKHLW (PRWLRQ XQG ,QEUXQVW JHWUDJHQ VLQG 'DPLW ZLOO LFK QLFKW DEVWUHLWHQ GD HLQ ZDKUKDIW UHOLJL|VHU 0HQVFK QLFKW VHLQHQ *ODXEHQ XQG VHLQH +LQJDEH GD]X EHQXW]HQ NDQQ VHLQH UHOLJL|VHQ XQG NRQ]HQWUDWLYHQ hEXQJHQ ]X I|UGHUQ ,FK P|FKWH GLH (DXWHUNHLW VROFKHU 0HQVFKHQ NHLQHVZHJV DQ]ZHLIHOQ $OOHUGLQJV PX LFK VDJHQ GD LFK VROFKHQ 0HQVFKHQQXUVHOWHQEHJHJQHWELQ'LHDJQRVWLVFKH+DOWXQJN|QQ
WHVLFKDOVIUXFKWEDUHUHUZHLVHQ2EMHNWLYLWlWNDQQLQGLHVHP=X VDPPHQKDQJHLQXQJHKHXUHU$NWLYSRVWHQVHLQ ,QWURVSHNWLRQ
(LQHGHUDXIGLH.RQ]HQWUDWLRQIROJHQGHQ6WXIHQLVWGLH,QWURVSHNWLRQ 6HOEVWEHREDFKWXQJ ,FKNDQQVLHQXUPLWGHPYHUJOHLFKHQZDVLQ GHU3V\FKRDQDO\VHDOVIUHLH$VVR]LDWLRQEHNDQQWLVW0DQOlWGDEHL GHQ*HLVWHLQIDFKVFKZHLIHQZRKLQHUZLOORKQHLKQ]XEHKLQGHUQ XQG EHREDFKWHW GLHVH %HZHJXQJ 'DV LVW XQJHIlKU VR DOV ZUGH PDQ HLQ 3IHUG RKQH 6HLO XQG RKQH 6DWWHO RGHU LUJHQGZHOFKH DQGHUZHLWLJHQ(LQVFKUlQNXQJHQVHLQHU%HZHJXQJVIlKLJNHLWDXI GLH :HLGHODVVHQ'XUFKGLHVHhEXQJNDQQPDQVHKUVFKQHOOHLQHVGHU JUXQGOHJHQGHQ7KHRUHPHGHU3V\FKRDQDO\VHEHUSUIHQ GDDOOH *HGDQNHQY|OOLJGHWHUPLQLHUWVLQG0DQZLUGQlPOLFKEDOGPHUNHQ GD PDQ DOOH *HGDQNHQ DXI HLQH .DXVDONHWWH ]XUFNIKUHQ NDQQ GLHVLFKZHLWLQGLH9HUJDQJHQKHLW]XUFNHUVWUHFNW'RFKGLHVPX MHGHUIUVLFKVHOEVWHQWGHFNHQ ©6RODQJHGXQLFKWZHLWZDVGHU*HLVWWXWNDQQVWGXLKQQLFKW NRQWUROOLHUHQªVFKULHE 6ZDPL9LYHNDQDQGD YRU YLHOHQ -DKUHQ XQG ZDVHUGDPDOVVDJWHWULIIWDXFKKHXWHQRFK]X ª*LE LKP GLH YROOH /lQJH GHU =JHO YLHOH DEVFKHXOLFKH *HGDQNHQ N|QQHQGDEHLDXIWDXFKHQGXZLUVWVWDXQHQGDGXVRHWZDVDXFKQXU GHQNHQ NDQQVW 'RFK ZLUVW GX DXFK IHVWVWHOOHQ GD GLH /DXQHQ GHV *HLVWHV YRQ 7DJ ]X 7DJ ZHQLJHU JHZDOWVDP ZHUGHQ GD VLH MHGHQ7DJ UXKLJHU ZHUGHQ :lKUHQG GHU HUVWHQ 0RQDWH ZLUVW GX IHVWVWHOOHQ GD GHU *HLVW WDXVHQG *HGDQNHQ SURGX]LHUWVSlWHUVLQGHV GDQQYLHOOHLFKW QXU QRFK VLHEHQKXQGHUW XQG QDFK HLQLJHQ ZHLWHUHQ 0RQDWHQ ZHU GHQ HV LPPHU ZHQLJHU ZHUGHQ ELV HU VFKOLHOLFK Y|OOLJ GHLQHU .RQWUROOH XQWHU OLHJW GRFK GD]X PVVHQ ZLU MHGHQ7DJ EHQ 6REDOG 'DPSI SURGX]LHUW ZLUG PXGLH7XUELQH ODXIHQXQGVREDOGVLFK'LQJHYRU XQVEHILQGHQ PVVHQ ZLUZDKUQHKPHQ'HVKDOEPXHLQ0 HQVFKXP]XEHZHLVHQ GDHUNHLQH0DVFKLQHLVWGHPRQVWULHUHQGDHUGXUFKQLFKWVNRQWURO OLHUW ZLUGª
'LH9HUZHQGXQJHLQHV.DVVHWWHQUHFRUGHUV
(LQH =HLWODQJ KDEH LFK EHL DOOHQ hEXQJVVLW]XQJHQ HLQHQ .DVVHW WHQUHFRUGHUEHQXW]W,FKHPSIHKOHGDV*HUlWVR]XSUlSDULHUHQGDHV HLQH YROOH 6WXQGH ODXIHQ NDQQ RKQH GD GHU hEHQGH VLFK GDUXP NPPHUQPX'DPLWZLOOLFKQLFKWVDJHQGDMHGHUYRQ$QIDQJDQ HLQH6WXQGHODQJEHQVROOWH,P*HJHQWHLO ,FKELQGHU0HLQXQJGD PDQ ]X $QIDQJUHODWLYNXU]H=HLW EHQ VROOWHQLHOlQJHUDOV]HKQ 0LQXWHQ0DQNDQQHLQ]ZHL RGHUGUHLPDOWlJOLFKEHQ6SlWHU ZHQQ PDQ HLQ ZHQLJ (UIDKUXQJ KDW NDQQ PDQ GLH hEXQJV]HLW HUKHEOLFK DXVGHKQHQ 'RFK VROOWH GHU .DVVHWWHQUHFRUGHU E]Z GLH .DVVHWWHLQMHGHP)DOO HLQH6WXQGH$XIQDKPHNDSD]LWlWKDEHQIDOOV GHUhEHQGHVLFKLPhEHQYHUOLHUW hEULJHQV VROOWH PDQ YRUKHU IHVWOHJHQ ZLH ODQJH PDQ EHQ ZLOO :HQQ HV ]HKQ 0LQXWHQ VLQG VROOWH PDQ HLQHQ :HFNHU RGHU HLQH .FKHQXKU DXI GLHVH =HLWVSDQQH HLQVWHOOHQ %HL (UW|QHQ GHV $ODUPVLJQDOV VROOWH PDQ GLH hEXQJ VRIRUW EHHQGHQ $XI GLHVH :HLVH OlW VLFK YHUKLQGHUQ GD PDQ VLFK EHL GHU 7RQEDQGDXI QDKPH GHU $VVR]LDWLRQHQ GLH ZlKUHQG GHU 3UD[LV GHU 6HOEVW HUIRUVFKXQJDXIWDXFKHQIRUWUHLHQOlW 'HUYHUERUJHQH,QKDOWGHV%HZXWVHLQV
:lKUHQG 6LH DXIUHFKW XQG EHZHJXQJVORV LQ GHU 0HGLWDWLRQVKDO WXQJ VLW]HQ IRUPXOLHUHQ 6LH UXKLJ LQ GDV 0LNURSKRQ MHGHQ *H GDQNHQ MHGH (ULQQHUXQJ MHGH ,GHH MHGH (PSILQGXQJ XQG MHGHV *HIKO GDV LQ ,KUHP ,QQHUHQ DXIWDXFKW :HQQ 6LH DP JOHLFKHQ 7DJ QRFK HLQ ]ZHLWHV 0DO EHQ RGHU ZHQQ 6LH HLQIDFK HLQ ZHQLJ =HLW HUEULJHQ N|QQHQ GDQQ K|UHQ 6LH VLFK DQ ZDV 6LH ]XYRU JHGDFKW KDEHQ *HZ|KQOLFK LVW GDV 5HVXOWDW VRZRKO VFKRFNLHUHQG DOV DXFK lX HUVW HUKHOOHQG $XI GLHVH :HLVH JHZLQQW GHU hEHQGH HLQH 9RU VWHOOXQJ YRQ GHP ZDV VLFK LQ VHLQHU 3V\FKH YHUELUJW 6FKRFNLHUHQG VLQG VROFKH $XI]HLFKQXQJHQ QXU GDQQ ZHQQ PDQ Y|OOLJ HKUOLFK EHLP )RUPXOLHUHQ GHU XPKHUVFKZHLIHQGHQ YHUERWHQHQ *HGDQNHQ ZDU GLH JHOHJHQWOLFK GDV HLJHQH ,FK GXUFKIOXWHQ (V LVW HLQH XQ JHKHXUH (UUXQJHQVFKDIW HLQH JHZLVVH PHQWDOH (KUOLFKNHLW ]X HQWZLFNHOQ
:HQQ PDQ VLFK HLQPDO ZLUNOLFK GHU YHUERUJHQHQ ,QKDOWH GHV %HZXWVHLQV EHZXW JHZRUGHQ LVW XQG GDUXP JHNlPSIW KDW PLW VLFKVHOEVWLQVUHLQH]XNRPPHQZHUGHQGLHLQQHUHQ.RQIOLNWHGLH GXUFKGLH=HQVXUGHVhEHU,FKGHV*HZLVVHQV HQWVWHKHQHUKHEOLFK YHUULQJHUW HEHQVR ZLH GLH =DKO GHU ©8QWHUEUHFKXQJHQª LQ GHU .RQ]HQWUDWLRQ ZHOFKH GXUFK GHQ 'UXFN GLHVHU XQWHUGUFNWHQ JHGDQNOLFKHQXQGHPRWLRQDOHQ,QKDOWHGHU3V\FKHHQWVWHKHQ 'DV$EOHLWHQJHLVWLJHU(QHUJLH
'LH3UD[LVGHU,QWURVSHNWLRQGHV$XI]HLFKQHQVIUHLHU$VVR]LDWLRQHQ DXI %DQG XQG GHV DQVFKOLHHQGHQ $EK|UHQV GHUVHOEHQ VROOWH PHKUHUH 0RQDWH ODQJ IRUWJHVHW]W ZHUGHQ ELV GDV (QWVHW]HQ EHU GLH HLJHQHQ JHKHLPHQ *HGDQNHQ VLFK JHOHJW KDW RGHU ]XPLQGHVW QXUQRFKLQVHKUDEJHVFKZlFKWHU)RUPYRUKDQGHQLVW1XQLVWPDQLQ GHU/DJHGHQ=XVWDQGGHU.RQ]HQWUDWLRQGLUHNWDQ]XVWHXHUQ 'LUHNW" ,FK JODXEH QLFKW 'HU GLUHNWH $QJULII GHU YHUVXFKW GHQ *HLVW GXUFK HLQHQ :LOOHQVDNW GD]X ]X ]ZLQJHQ VLFK DXI HLQ EH VWLPPWHV 2EMHNW RGHU 6\PERO ]X NRQ]HQWULHUHQ PDJ ]ZDU HLQHU EHZXQGHUQVZHUWHQ $EVLFKW HQWVSULQJHQ GRFK LVW HU DXV WDNWLVFKHU 6LFKW QLFKW ]X HPSIHKOHQ /HW]WHQGOLFK IKUW GLHVH $UW GHV 9RU JHKHQV ]X HLQHU GHP 6FKDWWHQER[HQ lKQHOQGHQ 5HDNWLRQ -H JU|HU GLH :LOOHQVDQVWUHQJXQJ GLH GHQ *HLVW ]XU .RQ]HQWUDWLRQ ]X ]ZLQJHQYHUVXFKWXPVRVWlUNHULVWDXFKGLH5HDNWLRQGHV*HLVWHVLQ )RUP YRQ $EVFKZHLIHQ SXUHP :LGHUVWDQG XQG *HIKOHQ GHU 0GLJNHLWXQG(UVFK|SIXQJ ,FK KDEH QLH HLQH %HPHUNXQJ YHUJHVVHQ GLH HLQHU PHLQHU /HKUHU HLQPDO JHPDFKW KDW DOVLFK DOVNOHLQHU -XQJH LQ GHU *UXQGVFKXOH ZDU (U VDJWH HV JHEH ZHVHQWOLFK PHKU 0|JOLFKNHLWHQ HLQHQ +XQG ]X W|WHQ DOV LKQ PLW %XWWHU ]X HUVWLFNHQ 8QG HV JLEW DXFK PHKU 0|JOLFKNHLWHQ GLH .XQVW GHU .RQ]HQWUDWLRQ ]X HUOHUQHQ DOV ]X YHUVXFKHQGHQ*HLVW]XP*HKRUVDP]X]ZLQJHQXQGLKQGDGXUFK]X HLQHPlXHUVWXQZLOOLJHQ,QVWUXPHQW]XPDFKHQ (LQ ZLFKWLJHU %HLWUDJ ]XP 7KHPD .RQ]HQWUDWLRQ LVW GLH $XI IRUGHUXQJ GHQ *HLVW DOV HLQH $UW 0DVFKLQH ]X EHWUDFKWHQ HLQH NRPSOL]LHUWH 0DVFKLQH ]ZDU DEHU HEHQ GRFK HLQH 0DVFKLQH 8QG DXV GLHVHP *UXQGH VROOWH PDQ QLH YHUJHVVHQ GD HLQH 0DVFKLQH (QHUJLHEHQ|WLJWGDPLWVLHLKUH$XIJDEHHUIOOHQNDQQ:HQQHV
QXQ P|JOLFK ZlUH GLH (QHUJLH YRQ GLHVHU 0DVFKLQH DE]XOHLWHQ RGHU VLH DXI LUJHQGHLQH :HLVH ]X QHXWUDOLVLHUHQ ZUGH GLH 0D VFKLQHDXIK|UHQ ]XDUEHLWHQ6RZHLWVRJXW ,P /DXIH GHU *HVFKLFKWH KDW PDQ GLH YHUVFKLHGHQVWHQ 0HWKRGHQ HUVRQQHQ XP GHU 0DVFKLQHULH GHV *HLVWHV (QHUJLH ]X HQW]LHKHQ (LQH VROFKH 0HWKRGH ZDU YROOVWlQGLJHU 1DKUXQJVHQW]XJ RGHU HLQH HLQJHVFKUlQNWH (UQlKUXQJ HLQH 'LlW 'D GHU .|USHU MHGRFK DXI GLHVH :HLVH JHVFKZlFKW ZLUG PX PDQ DQVFKOLHHQG GHQ QXQ NUDQNHQ XQG VFKOHFKW IXQNWLRQLHUHQGHQ 2UJDQLVPXV SIOHJHQ $XHUGHP UHJHQ VROFKH 0DQDKPHQ GHQ *HLVW ]X DXVVFKZHL IHQGHQ 3KDQWDVLHQ EHU 1DKUXQJ )HVWJHODJH XQG )UHRUJLHQ DQ (LQLJH )DQDWLNHU GHV )DVWHQV IUKHUHU =HLWHQ KDEHQ VLFK ELWWHUOLFK GDUEHU EHNODJW VLH VHLHQ YRP 7HXIHO XQG VHLQHQ +HOIHUQ JHSHLQLJW ZRUGHQ $XFK GXUFK *HLHOXQJHQ KDW PDQ YHUVXFKW GHQ .|USHU ]XU 8QWHUZHUIXQJ ]X ]ZLQJHQ LQ GHU +RIIQXQJ GD DXI GLHVH :HLVH DXFK GHU *HLVW XQWHUZRUIHQ XQG GDQQ VHLQ XQDEOlVVLJHV 8PKHU VFKZHLIHQ DXIJHJHEHQ ZUGH 'RFK GLHV LVW HLQH YHUJHEOLFKH +RIIQXQJ *HZ|KQOLFK KDEHQ 0HQVFKHQ GLH VLFK VROFKH .DVWHL XQJHQ DXIHUOHJHQ HLQ JHKHLPHV RGHU XQEHZXWHV 9HUODQJHQ QDFK %HIULHGLJXQJ LKUHV 0DVRFKLVPXV XQG GD GDV $XVSHLWVFKHQ LKQHQ HLQ /XVWJHIKO YHUVFKDIIW UHJW HV GHQ *HLVW GD]X DQ DXI HLQH :LHGHUKROXQJ GLHVHV 9RUJDQJV ]X GUlQJHQ .HLQHVIDOOV ZLUG GHP *HLVWDXIGLHVH:HLVH(QHUJLHHQW]RJHQ ©+lUHQH +HPGHQª QLFKW EDGHQ EHU OlQJHUH =HLW XQG GDV GD GXUFK YHUXUVDFKWH $XIWUHWHQ YRQ 3DUDVLWHQEHIDOO 6WHKHQ RGHU 6LW]HQ LQ HLQHU EHVWLPPWHQ +DOWXQJ EHU OlQJHUH =HLW VRZLH DQ GHUH )RUPHQ GHU .DVWHLXQJ GLH GDUDXI ]LHOHQ GHU 1LFKWLJNHLW GHV *HLVWHV ]X WURW]HQ IKUHQ ]X DEVROXW QLFKWV ,KUH HLQ]LJH :LUNXQJ LVW GD GHU JHVDPWH 3UR]H GHV /HUQHQV ]X HLQHP $OSWUDXP XQG ]X HLQHUWHXIOLVFKHQ4XDOZLUG 'HP *HLVW 6LQQHVHLQGUFNH ]X HQW]LHKHQ ©GHQ 6WURP DE]X VFKDOWHQª LVW HLQH 0|JOLFKNHLW 'RFK ZHQQ PDQ ]X GLHVHU 0H WKRGH JUHLIW PX PDQ GDUDXI YRUEHUHLWHW VHLQ VLFK PLW GHP YHU VWlUNWHQ $XIWDXFKHQ N|USHUHLJHQHU 6WLPXOL VROFKHQ GHU 0XVNHOQ XQG 2UJDQH GHV .|USHUV DXVHLQDQGHU]XVHW]HQ VRZLH PLW GHP $XIWUHWHQ YRQ +DOOX]LQDWLRQHQ XQG YRQ %LOGHUQ XQG 3KDQWDVLHQ GLH GHP 8QEHZXWHQ HQWVWDPPHQ 1LFKWV YRQ DOO GHP VFKHLQW GHQ*HLVWVHLQHU(QHUJLH]XEHUDXEHQ(UVHW]WVHLQH7lWLJNHLW
XQYHUGURVVHQIRUWHUGHQNWSKDQWDVLHUWXQGHULQQHUWVLFKZHLWHUKLQ XQG DOO GLHV ZHLO HLQH E|VZLOOLJH 0DFKW VLFK GHU (QWZLFNOXQJ GHU .RQ]HQWUDWLRQ]XZLGHUVHW]HQVFKHLQW (LQLJH |VWOLFKH ([SHUWHQ DXI GHP *HELHW GHU 0HGLWDWLRQ OHQNHQ GLH $XIPHUNVDPNHLW DXI GLH 7DWVDFKH GD VWHWLJH RGHU OlQJHUH 0HGLWDWLRQ PLW 6LFKHUKHLW EHVWLPPWH +DOOX]LQDWLRQHQ KHUYRUUXIW GLH VLH 0D\D QHQQHQ 'LHVH +DOOX]LQDWLRQHQ VLQG QLFKWV DQGHUHV DOV GDV =XWDJHWUHWHQ XQG GLH 3URMHNWLRQ GHU ODWHQWHQ ,QKDOWH GHV 8QEHZXWHQ (V LVW ZLFKWLJ VLH DOV VROFKH ]X HUNHQQHQ VRQVW LVW GLH6WDELOLWlWGHU3V\FKHLQ*HIDKU 0DQWUDV
,FK KDEH EHUHLWV ZHLWHU REHQ HUZlKQW GD HLQH VWDUNH (PRWLRQ RGHU HLQH VWDUNH SK\VLVFKH (PSILQGXQJ VSRQWDQ HLQH EHVWLPPWH $UW YRQ .RQ]HQWUDWLRQ KHUYRUUXIW (V LVW ]ZDU QLFKW P|JOLFK GHP *HLVW MHJOLFKH (QHUJLH ]X HQW]LHKHQ GRFK PDQ N|QQWH GLH VRHEHQ EHVFKULHEHQHQ 0HWKRGHQ P|JOLFKHUZHLVH ]XVDPPHQ PLW HLQHU GULWWHQ DQZHQGHQ GLH ]XU .RQ]HQWUDWLRQ IKUW XQG JOHLFK]HLWLJ GHP *HLVW (QHUJLH HQW]LHKW :LU KDEHQ HV DOVR PLW GUHL 'LQJHQ ]X WXQPLW(PRWLRQHQ(PSILQGXQJHQXQGGHU(QHUJLH]LUNXODWLRQ %HYRU LFK PLFK MHGRFK PLW GLHVHQ GUHL 7KHPHQ DXVHLQDQGHU VHW]H P|FKWH LFK PLFK DXVIKUOLFKHU PLW HLQHP 3KlQRPHQ EH IDVVHQ GDV LQGLUHNW PLW HUVWHUHQ ]XVDPPHQKlQJW (V JLEW VHLW ODQJHU =HLW HLQH HLQIDFKH 0HWKRGH GHUHQ =ZHFN HV LVW GLH TXHFN VLOEULJHQ %HZHJXQJHQ GHV *HLVWHV ]X YHUODQJVDPHQ 'LHVH 0H WKRGH LVW EHNDQQW XQWHU GHP 1DPHQ 0DQWUD (LQ 0DQWUD LVW ]X QlFKVW HLQPDO JDQ] HLQIDFK HLQ:RUWRGHU HLQ6DW] JHZ|KQOLFK YRQ KHLOLJHURGHUUHOLJL|VHU%HGHXWXQJXQGZLUGXQHQWZHJWZLHGHUKROW HQWZHGHU ODXW RGHU XQK|UEDU MHGRFK KlXILJHU LP *HLVWH 1DFK HLQLJHQ7DJHQVWlQGLJHU:LHGHUKROXQJZLUGGDV0DQWUDVFKOLHOLFK YRP *HLVW DXIJHQRPPHQ 6R JHODQJW PDQ ]X HLQHU $UW PH FKDQLVFKHU .RQ]HQWUDWLRQ GLH PDQ ]XU 9HUIROJXQJ ]XYRU IHVWJHOHJWHU =LHOHQXW]HQNDQQ ,P 2VWHQ JLEW HV GLH0DQWUDV LP :HVWHQ GLH $IILUPDWLRQHQ 'D VLH VLFK LQ GHU :LUNXQJ ]LHPOLFK lKQOLFK VLQG LVW HV OHW]WOLFK HLQH 6DFKH GHU SHUV|QOLFKHQ 9RUOLHEH IU ZHOFKH YRQ EHLGHQ )RUPHQ PDQVLFKHQWVFKHLGHW(LQLJHGHUNODVVLVFKHQ|VWOLFKHQ0DQWUDV
ODXWHQ2P 7DW 6lW 7DW 7ZDP $VL 2P QLPDKD VKLYD\D RP 2P PDQL SDGPH KXP$EJHVHKHQ YRQ LKUHP :RUWVLQQ HUODQJHQ VLH HLQH DQGHUH %HGHXWXQJ ZHQQ LKUH :LHGHUKROXQJ ]X HLQHP DXWR PDWLVFKHQ 3UR]H JHZRUGHQ LVW (LQVLFKWHQ SIOHJHQ VLFK GDQQ VSRQWDQHLQ]XVWHOOHQ 0DQWUDV GLH DXI FKULVWOLFKHP *HGDQNHQJXW EDVLHUHQ VLQG DXFK EHL XQV EHNDQQW ©'HU +HUU LVW PHLQ +LUWH HV ZLUG PLU DQ QLFKWV PDQJHOQª LVW HEHQVR ZLH HLQLJH DQGHUH 6lW]H DXV GHU %LEHO DOV 0DQWUDVHKUEHOLHEW (LQ 0DQWUD DXV GHP NDWKROLVFKHQ 0HULWXV LVW HEHQIDOOV VHKU ZLUNVDP.\ULHHOHLVRQ&KULVWHHOHLVRQ,PNDWKROLVFKHQ0HEXFK VLQG EULJHQV QRFK YLHOH lKQOLFK ZLUNVDPH0DQWUDV ]X ILQGHQ (LQ bTXLYDOHQW DXV GHU UXVVLVFKRUWKRGR[HQ .LUFKH LVW *RVSRG\ SROPLOXLHLQ EHVRQGHUVZRKONOLQJHQGHV XQG UK\WKPLVFKHV0DQWUD ,Q GHU 2VWNLUFKH ZLUG DP .DUIUHLWDJ HLQH PHORGL|VH +\PQH JHVXQJHQ GLH QXU DXV GLHVHQ EHLGHQ :|UWHUQ EHVWHKW GLH VWlQGLJ ZLHGHUKROWZHUGHQ ©+HUU -HVXV &KULVWXV 6RKQ *RWWHV KDE (UEDUPHQ PLW PLU DU PHP6QGHUª'LHVLVWHLQFKULVWOLFKHV0DQWUDGDVVHKUDXVIKUOLFK LQ GHP %XFK 'HU :HJ GHV 3LOJHUV EHVFKULHEHQ ZLUG HLQ %XFK GDV MHGHUGHUVLFKPLWGLHVHP7KHPDDXVHLQDQGHUVHW]WXQEHGLQJWOHVHQ VROOWH(VKDQGHOWYRQHLQHPHLQIDFKHQUXVVLVFKHQ%DXHUQGHUGHQ 6LQQ XQG GLH $XVZLUNXQJ GHV ELEOLVFKHQ *HERWV PDQ P|JH ©RKQH 8QWHUOD EHWHQª XQG ©PLW GHP +HU]HQ EHWHQªKHUDXVILQGHQ ZROOWH ,FK PX HLQHQ $EVFKQLWW DXV GLHVHP %XFK ]LWLHUHQ ZHLO HU VR QDLY DXIULFKWLJ XQG JOHLFK]HLWLJ HLQH VR KHUYRUUDJHQGH PHWKRGL VFKH 'DUVWHOOXQJ LVW GD HU GHQ 6LQQ GHU 0DQWUD0HGLWDWLRQ VHKU JXWYHUDQVFKDXOLFKW ©'DQQ VWHOOH GLU JHQDXVR GDV +HU] YRU ULFKWH GHLQH $XJHQ GRUWKLQ DOV EOLFNWHVWGXHVGXUFKGLH%UXVWGXUFKDQXQGVWHOOHHVGLUVROHEKDIWZLH P|JOLFK YRU KRUFKH DEHUP|JOLFKVWDXIPHUNVDP PLW GHQ2KUHQ ZLH HV VLFKUHJWXQG0DOIU0DOVFKOlJW:HQQGXGLFKGDKHUHLQJHIXQGHQKDVW VR EHJLQQHPLWMHGHP6FKODJGHV+HU]HQVLQGLHVHVKLQHLQEOLFNHQGGLH
'DV%XFKLVWLQGHXWVFKHU6SUDFKHHUVWPD OVLQ%HUOLQPLWGHP 7LWHO3LOJHUOHEHQHUVFKLHQHQXQGZXUGHDOV+HUGHU7DVFKHQEXFK ZLHGHUYHU|IIHQWOLFKW
*HEHWVZRUWH GHP DQ]XSDVVHQ %HLP HUVWHQ 6FKODJ VDJH RGHU GHQNH +HUUEHLP]ZHLWHQ-HVXVEHLPGULWWHQ&KULVWXVEHLPYLHUWHQHUEDU PH GLFK EHLPIQIWHQPHLQHU XQG ZLHGHUKROHGLH VVRRIWZLHP|JOLFK HV ZLUGGLUGLHVOHLFKWIDOOHQGHQQGXKDVWMDVFKRQGHQ$QIDQJJHPDFKW XQG GLFKDXIGDV+HU]HQVJHEHWYRUEHUHLWHWª
'HU 3LOJHU EHVFKUHLEW GLHVH 0HWKRGH HLQHP %OLQGHQ GHU EHUHLWV HLQPDO PLW GHP NODVVLVFKHQ :HUN UXVVLVFKHU 0\VWLN'LH 3KLOR NDOLD©7XJHQGOLHEHª LQ.RQWDNWJHNRPPHQZDU ©:HQQ GX GLFK GDUDQ JHZ|KQW KDW VR EHJLQQH GDV JDQ]H -HVXVJHEHW ]XJOHLFK PLW GHP$WHP LQV +HU] KLQHLQ XQGZLHGHUKHUDXV]XIKUHQ ZLHHVGLH9lWHUOHKUHQGDVKHLWVDJHZHQQGXGLH/XIWHLQDWPHVW RGHU GHQNH GLU +HUU -HVXV &KULVWXV OlW GX VLH DEHUHQWZHLFKHQ HUEDUPH GLFKPHLQHU7XH GLHVVRRIWDOVP|JOLFK VRZLUVWGXEDOGHLQHQIHLQHQ DQJHQHKPHQ 6FKPHU] LP +HU]HQ VSUHQ DOVGDQQ ZLUG VLFK HLQH :lUPH GDULQ DXVEUHLWHQ 6R ZLUVW GX PLW *RWWHV +LOIH GLH 6HOEVWWlWLJNHLW GHV EHVHOLJHQGHQLQQHUHQ+HU]HQVJHEHWVHUODQJHQ
-RHO *ROGVPLWK ]lKOW LQ VHLQHP DXVJH]HLFKQHWHQ %XFK 7KH $UW RI 0HGLWDWLRQ ©'LH .XQVW GHU 0HGLWDWLRQª HLQLJH PRGHUQH PHWD SK\VLVFKH $IILUPDWLRQHQ DXI XQG VHLQ %XFK VROOWH JDQ] VLFKHU DXI MHGHU /LVWH HPSIHKOHQVZHUWHU %FKHU ]XP 7KHPD 0HGLWDWLRQ HU VFKHLQHQ 8QG QDWUOLFK VROOWHQ ZLU DXFK QLHPDOV GLH EHUKPWHQ %FKHU YRQ 0DU\ %DNHU (GG\ YHUJHVVHQ GLH ]XP 5FNJUDW GHU %HZHJXQJ GHU &KULVWOLFKHQ :LVVHQVFKDIW ZXUGHQ ©*RWW LVW $OOHV LQ DOOHP *RWW LVW JXW *RWW LVW *HLVW :HQQ *RWW GHU J|WWOLFKH *HLVW DOOHV LVW LVW 0DWHULH QLFKWVª 'LHVH /HKUVlW]H RGHU QXU 7HLOH GHUVHOEHQ ZXUGHQ DOV $IILUPDWLRQHQ EHQXW]W XP GHQ *HLVW GHV hEHQGHQ LQ HLQHP $NW GHU .RQ]HQWUDWLRQ *RWW ]X]XZHQGHQ ]XU +HLOXQJ N|U SHUOLFKHU RGHU JHLVWLJHU (UNUDQNXQJHQ XQG 0lQJHO (LQH *UXSSH PLW GHP 1DPHQ 1HZ7KRXJKW0RYHPHQW©%HZHJXQJ IU QHXHV 'HQNHQª GLH VLFK YRQ GHU +DXSWEHZHJXQJ GHU &KULVWOLFKHQ :LV VHQVFKDIW HQWIHUQW KDW KDW HEHQIDOOV +XQGHUWH YRQ $IILUPDWLRQHQ KHUYRUJHEUDFKW 'LH NOHLQHQ 0DJD]LQH GLH YRQ GHU 8QLW\2UJD QLVDWLRQYHU|IIHQWOLFKWZHUGHQJHEHQIUMHGHQ7DJGHU:RFKH $XIULFKWLJH(U]lKOXQJHQHLQHVUXVVLVFKHQ3LOJHUV +HUGHU7DVFKHQ EXFK%G)UHLEXUJ6II
RGHUGHV0RQDWVHLQHDQGHUH$IILUPDWLRQDOV0HGLWDWLRQVKLOIHDQ 'LH0RKDPPHGDQHUKDEHQHLQODQJHVVRQRUHVDUDELVFKHV0DQWUD GDVZHJHQVHLQHVUHLQHQ.ODQJVVHKU]XHPSIHKOHQLVW4XRO+XD $OODKXDFKDG$OODKX$VVDPDGODP\DOLGZDODP\XODGZDODP \DNXQ ODKX DFKDG'LH hEHUVHW]XQJ GLH MHGRFK ZHQLJ PLW GHU :LUNXQJGHV0DQWUDV]XWXQKDWODXWHW©6DJH (UDOOHLQLVW*RWW *RWW GHU (ZLJH (U ]HXJW QLFKW XQG ZLUG QLFKW JH]HXJW (EHQVRZHQLJJOHLFKWLKPLUJHQGHLQDQGHUHUª (LQH $IILUPDWLRQ E]Z HLQ 0DQWUD GHVVHQ :XU]HOQ LQ GHU DOWHQ PDJLVFKUHOLJL|VHQ 7UDGLWLRQ OLHJHQ ODXWHW ©.HLQ 7HLO YRQ PLU VWDPPWQLFKWYRQGHQ*|WWHUQª'HU6DW]VWDPPWDXVHLQHP5LWXDO GHVbJ\SWLVFKHQ7RWHQEXFKHV 0LWWHGHV-DKUKXQGHUWVZXUGHHV YRP +HUPHWLF 2UGHU RI WKH *ROGHQ 'DZQDXIJHJULIIHQ XQG HLQHU GHU /HLWHU GLHVHV 2UGHQV 0DF*UHJRU 0DWKHUV SIOHJWH DOOH PLW GHQHQHU]XVDPPHQWUDIPLWGLHVHP6DW]]XEHJUHQ &URZOH\V 0DQWUD DXV GHP %XFK GHV *HVHW]HVKDW HEHQIDOOV HLQHQ VRQRUHQ 5K\WKPXV (U WUDQVNULELHUWH HV YRQ HLQHU lJ\SWLVFKHQ 6WHOH LP %RXODN0XVHXP $ ND GXD 7XIXU ELX %L DD FKHIX 'XGX QHUDIDQQXWHUX6HLQHSRHWLVFKHhEHUVHW]XQJODXWHW (UZLHVHQLVWOHW]WH(LQKHLW ,FKEHZXQGHUHGLH0DFKW'HLQHV$WHPV +|FKVWHUXQGIXUFKWEDUHU*RWW 'HU'XGLH*|WWHUXQGGHQ7RG YRU'LUHU]LWWHUQPDFKVW ,FK,FKEHWH'LFKDQ
(LQHV GHU EHUKPWHQ EXGGKLVWLVFKHQ 0DQWUDV ODXWHW 1DPR WDVVR %KDJDYDWR $UDKDWR 6DPPDVDPEXGGKDVD (V EHGHXWHW ª+HLO 'LU GHP *HVHJQHWHQ GHP 9ROONRPPHQHQ GHP +|FKVWHQ (U OHXFKWHWHQª (V JLEW QRFK YLHOH DQGHUH 0DQWUDV 'HP 6XFKHQGHQ VHOEVW EOHLEW HV EHUODVVHQ GDVMHQLJH DXV]XZlKOHQ YRQ GHP HU VLFK EHVRQGHUV DQJH]RJHQ IKOW (V VSLHOW ZLUNOLFK NHLQH 5ROOH ZRKHU HV VWDPPW :DV KDOWHQ 6LH ]XP %HLVSLHO YRP IROJHQGHQ HQJOLVFKHQ .LQGHU UHLP ©+H\ GLGGOH GLGGOH 7KH FDW DQG WKH ILGGOH 7KH FRZ MXPSHG RYHUWKHPRRQª:HQQ6LHGDV*HIKOKDEHQ6LHN|QQWHQVLFK $OHLVWHU&URZOH\'DV%XFKGHV*HVHW]HV 6SKLQ[9HUODJ%DVHO6
GLHVHQEDQDOHQ.LQGHUUHLPZLUNOLFK]XHLJHQPDFKHQVRNDQQHU LKQHQHEHQVRJXWH'LHQVWHOHLVWHQZLHMHGHVDQGHUH0DQWUD :LHPDQPLWHLQHP0DQWUDEW
:lKOHQ6LHHLQ0DQWUDGDV,KQHQJHIlOOW XQGEHJLQQHQ6LHGDQQ]X EHQ$QIDQJVVSUHFKHQ6LHHVDPEHVWHQODXWDXV:HQQ6LHQDFK HLQLJHU =HLW PLW GHP 9RUJDQJ YHUWUDXWHU JHZRUGHQ VLQG VROOWH GDV 0DQWUDLQ GLH 3V\FKHEHUPLWWHOW ZRUGHQVHLQXQGGDQQVWLOORGHU LP*HLVWHZLHGHUKROWZHUGHQ ,FK SHUV|QOLFK KDEH HLQH 9RUOLHEH IU 0DQWUDV DXV GHP %HUHLFK GHU .DEEDOD 2IW KDEH LFK GDV 0DQWUD (KHLHKEHQXW]W GHQ *RW WHVQDPHQ GHU .HWKHU GHU HUVWHQ 6HSKLUDK RGHU (PDQDWLRQ GHV NDEEDOLVWLVFKHQ /HEHQVEDXPV ]XJHRUGQHW ZLUG 2IW KDEH LFK DXFK HLQHQ JURHQ KHEUlLVFKHQ %XFKVWDEHQ 6KLQPLW IHWWHQ URWHQ 8P UDQGXQJHQ EHU GHP .RSI YLVXDOLVLHUW XQG GDEHL XQXQWHUEURFKHQ GLHVHV :RUW YLEULHUW ,Q DQGHUHQ )lOOHQ KDEH LFK $FKDWK 5XDFK (ORKLP FKD\LPEHQXW]W ZDV EHGHXWHW ©(LQV LVW VLH GHU *HLVWGHV HZLJ OHEHQGHQ *RWWHVª 'LH %HGHXWXQJ GHV 6DW]HV LVW MHGRFK ]ZHLWUDQJLJ JHJHQEHU GHP VWlQGLJHQ 9LEULHUHQ GHV 1DPHQV GXUFK ZHOFKHV GHU *HLVW GD]X WUDLQLHUW ZLUG LKQ VSRQWDQ DXI]X QHKPHQ 'LHV PDJ VFKZLHULJ NOLQJHQ ZDV EULJHQV IU GHQ JH VDPWHQ%HUHLFKGHUhEXQJJHOWHQPDJ'RFKZHQQPDQHUVWHLQPDO HLQH NRQWLQXLHUOLFKH hEXQJVGLV]LSOLQ DXIJHEDXW KDW LVW HV ZHVHQWOLFK OHLFKWHU DOV PDQ ]XYRU DQJHQRPPHQ KDW 'HU VFKZLHULJVWH 7HLO GHV JHVDPWHQ 3URMHNWV LVW ZDKUVFKHLQOLFK VLFK JDQ] HLQIDFK GD]X DXI]XUDIIHQ DQ]XIDQJHQ XQG GDQQ ZHLWHU]X PDFKHQ:HQQGHU$QIDQJVZLGHUVWDQGHLQPDOEHUZXQGHQLVWLVWHV VRJDUUHODWLYOHLFKWHLQ0DQWUD]XYHULQQHUOLFKHQ :HQQ GHU hEHQGH HLQ UHOLJL|VHU 0HQVFK LVW JDQ] JOHLFK ZHOFKHQ *ODXEHQV GHQQ GDV LVW LQ GLHVHP )DOO QLFKW EHVRQGHUV ZLFKWLJ NDQQ HV EHVRQGHUV JHZLQQEULQJHQG VHLQ HLQ 0DQWUD ]X EHQ'LH:LHGHUKROXQJGHV6DW]HV$XVGUXFNVRGHU1DPHQV REHU QXQGHQ3VDOPHQGHQ(YDQJHOLHQGHP.RUDQGHQ9HGDVRGHUGHP 7RWHQEXFKHQWVWDPPW KDWHLQHVWDUNH:LUNXQJ(LQVHLQHU6DFKH ]XWLHIVW KLQJHJHEHQHU MGLVFKHU .DEEDLLVW GHU GDV DOWH *HEHW ©+|UH RK ,VUDHO GHU +HUU XQVHU *RWW GHU +HUU LVW (LQVª DOV 0DQWUD ZLHGHUKROWHUIOOWGLHVHQ6DW]PLWHLQHPXQJHKHXUHQ0DYRQ
(QHUJLH XQG (PRWLRQ 6HLQH OHLGHQVFKDIWOLFKH +LQJDEH EHZLUNW GD VHLQ *HLVW GDV 0DQWUD VWlQGLJ ZLHGHUKROW ELV HU GHQ =XVWDQG GHU .RQ]HQWUDWLRQ HUUHLFKW KDW(EHQVR JHKW HV GHP RUWKRGR[HQ .DWKROLNHQ GHU ZLH GLH+DXSWSHUVRQLQ'HU:HJGHV3LOJHUVPLW JOKHQGHP +HU]HQ ZLHGHUKROW ©2 +HUU -HVXV &KULVWXV 6RKQ *RWWHV HUEDUPH GLFK PHLQHUª 'DV $XIODGHQ GHU PHFKDQLVFKHQ :LHGHUKROXQJ GHV 0DQWUDV PLW (PRWLRQHQ EH]ZLQJW GHQ ZLGHU VSHQVWLJHQ *HLVW LQGHP HV HLQHQ WLHIHQ =XVWDQG GHU .RQ]HQWUDWLRQ LQGX]LHUW%HLHQWVSUHFKHQGHUhEXQJZLUGHVP|JOLFKQDFK%HOLHEHQ LQ GHQ =XVWDQG GHU .RQ]HQWUDWLRQ HLQ]XWUHWHQ XQG LKQ ZLHGHU ]X YHUODVVHQ ELV GLHV VFKOLHOLFK HEHQVR OHLFKW LVW ZLH PDQ GHQ 6WURPHLQ XQGDXVVFKDOWHW 0DQWUDVIU$WKHLVWHQXQG$JQRVWLNHU
'HU $JQRVWLNHU RGHU $WKHLVW GHU NHLQHUOHL UHOLJL|VHV *HIKO KDW ZLUG VLFK GXUFK GLH NRQYHQWLRQHOOHQ UHOLJL|VHQ 0DQWUDV QLFKW HPRWLRQDO DQJHVSURFKHQ IKOHQ (U NDQQ VLFK GHQQRFK GHQ SRVL WLYHQ (LQIOX GHU (PRWLRQHQ ]XQXW]H PDFKHQ LQGHP HU EHL VSLHOVZHLVHHLQHQ6DW]DXVHLQHP*HGLFKWRGHUDXVHLQHP5RPDQ ZlKOW GHU LKQ VWDUN EHZHJW KDW ,FK ELQ PLU VLFKHU GD GLHV SUDNWLVFKMHGHULUJHQGZDQQHLQPDOHUOHEWKDW'LHVHQ6DW]N|QQWHHU GDQQ DOV VHLQ 0DQWUD EHQXW]HQ 6ROOWH GLHV QLFKW ]XP (UIROJ IKUHQ VR N|QQWH HU VLFK DXI HLQ SHUV|QOLFKHV (UOHEQLV EHVLQQHQ HWZDDXIGDV:HUEHQXPHLQHQJHOLHEWHQ0HQVFKHQLQGHU-XJHQG DOVGLH:HOOHQ GHU(PRWLRQHQKRFKDXIZRJWHQ(UN|QQWHVLFKGLHVH JHOLHEWH 3HUVRQ LP *HLVWH YRUVWHOOHQ XQG ZLH EHL HLQHP UHOLJL|VHQ 0DQWUD ZLHGHUKROHQ ©/LHEOLQJ LFK OLHEH GLFK /LHEOLQJ LFK OLHEH GLFKª :HQQ GLHVH .RPELQDWLRQ HLQHV JHLVWLJHQ %LOGHV PLW GHU :LHGHUKROXQJ GHV 6DW]HV GLH WLHIVWHQ (PRWLRQHQ KHUDXI]XEH VFKZ|UHQ YHUPDJGLHGHUE]ZGLH%HWUHIIHQGHYLHOH-DKUH]XYRU HPSIXQGHQ KDW VR NDQQ GLHV HEHQVR GD]X EHLWUDJHQ GLH .RQ]HQ WUDWLRQVIlKLJNHLW]XHQWZLFNHOQZLHHLQUHOLJL|VHV0DQWUD
'LHHUVWH6WXIH
©:DV LVW PLW GHP )HVWKDOWHQ GHV *HLVWHV DQ EHVWLPPWHQ 3XQNWHQ JHPHLQW"ª IUDJW 9LYHNDQDQGD LQ VHLQHP DXVJH]HLFKQHWHQ %XFK 5DMD
'LH QlFKVWH 6WXIH GHU hEXQJ EHVWHKW GDULQ HLQIDFK UK\WKPLVFKHV $WPHQ ]X EHQ *HUDGH LQ GHU (LQIDFKKHLW GLHVHU 0HWKRGH OLHJW LKU JURHU 9RUWHLO 6LH EHVWHKW GDULQ ]X ]lKOHQ XQG ODQJVDP ELV ]X HLQHU EHVWLPPWHQ =DKO HLQ]XDWPHQ XQG DQVFKOLHHQG JHQDXVR YLHOH =lKO]HLWHQ DXV]XDWPHQ hEHQGH GHUHQ %UXVW PXVNXOlU VWDUN YHUVSDQQW LVW VROOWHQ HLQHQ NXU]HQ =lKOUK\WKPXV ZlKOHQ ] % O XQGXQGXQG XQGDQVFKOLHHQGHEHQVRYLHOH=lKO]HLWHQODQJ DXVDWPHQ ,FK HPSIHKOH ]ZLVFKHQ GHQ HLQ]HOQHQ =DKOHQ HLQ ©XQGª HLQ]XVFKDOWHQ XP GHQ =lKOSUR]H ]X YHUODQJVDPHQ 'LHV LVW VHKU ZLFKWLJ 'HQQ GDV (LQKDOWHQ HLQHV 5K\WKPXV IKUW QLFKW QXU ]X ZDKUQHKPEDUHQ SK\VLVFKHQ 5HVXOWDWHQ VRQGHUQ JOHLFK ]HLWLJ NRPPW HV GXUFK GLH DOOPlKOLFKH 9HUOlQJHUXQJ GHV =lKO VFKHPDV ]X HLQHU 9HUODQJVDPXQJ GHU JHLVWLJHQ $NWLYLWlW :HQQ VLFK GLH PXVNXOlUHQ 9HUVSDQQXQJHQ ORFNHUQ NDQQ PDQ ]X OlQ JHUHQ=lKOUK\WKPHQEHUJHKHQ %HL :HLWHUHQWZLFNOXQJ GLHVHV 5K\WKPXV ZHUGHQ IUKHU RGHU VSlWHUJHZLVVHN|USHUOLFKH(PSILQGXQJHQDXIWUHWHQGLHJU|WHQWHLOV YRQ]ZHLHUOHL$UWVLQG ZRPLWLFKNHLQHVZHJVEHVWUHLWHQZLOOGDHV QRFK YLHOHDQGHUHJLEW'LHHUVWH(PSILQGXQJLVWHLQSULNNHOQGHV *HIKOLPJDQ]HQ.|USHUGDVGXUFKDXVPLWGHP©(LQ
VFKODIHQª HLQHV .|USHUJOLHGHV YHUJOHLFKEDU LVW ]X ZHOFKHP IU NXU]H=HLWGLH%OXW]XIXKUXQWHUEURFKHQZRUGHQLVW%HL1DFKODVVHQ GHV 'UXFNV HQWVWHKW GXUFK GDV :LHGHUHLQVHW]HQ GHU %OXW]XIXKUGDV EHVDJWH 3ULFNHOQ 5K\WKPLVFKHV $WPHQ HU]HXJW HLQH lKQOLFKH (PSILQGXQJLQDOOHQ=HOOHQGHV.|USHUV 3DUDOOHO KLHU]X WULWW HLQH EHVWLPPWH VFKZHU ]X EHVFKUHLEHQGH NUlXVHOQGH (PSILQGXQJ LP =ZHUFKIHOOEHUHLFK DXI :HQQ PDQ QDFK GHP $XIWUHWHQ GLHVHU (PSILQGXQJ PLW GHP UK\WKPLVFKHQ $WPHQ IRUWIlKUW GHKQW VLFK GLHVHOEH DOOPlKOLFK DXV ELV PDQ GDV *HIKOKDWGHU JDQ]H .|USHU ZUGH SXOVLHUHQ 0DQ PX GLHVVHOEVW HUOHEW KDEHQ XP GLHVH %HVFKUHLEXQJ Y|OOLJ ]X YHUVWHKHQ 0DQFKH EHVFKUHLEHQVLHDOV©VDQIWª©VFKPHO]HQGªRGHU©N|VWOLFKª 'LHVH XQJHZ|KQOLFKHQ (PSILQGXQJHQ VLQG MHGRFK QXU GLH 9RU ERWHQ MHQHV XQEHVFKUHLEOLFKHQ *HIKOV GHV *OFNV XQG GHU (N VWDVH GDV HLQHV 7DJHV DXIWUHWHQ ZLUG ZHQQ K|KHUH 6WXIHQ VSLUL WXHOOHU (QWZLFNOXQJ HUUHLFKW VLQG ©'HU .|USHU LVW PGH XQG GLH 6HHOH LVW ]X 7RGH HUVFK|SIW GRFK EOHLEW GDV VLFKHUH %HZXWVHLQ GHU (NVWDVHXQEHNDQQWXQGGRFKDXFKEHNDQQWLQVRIHUQGLH*HZLKHLW GHU ([LVWHQ] GLHVHV =XVWDQGV EHVWHKW 2 +HUU VHL PHLQ +HOIHUXQG IKUHPLFK]XU6HOLJNHLWGHV*HOLHEWHQª 'LH0DFKWGHV5K\WKPXV
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|USHUOLFKHQ (PSILQGXQJ RGHU GDV NUlXVHOQGH *HIKO LP =ZHUFKIHOOEHUHLFK DXI GHQ $QIlQJHU VHKU HUPXWLJHQG ZLUNHQ 'LH (LQEH]LHKXQJ GHV $WHPSUR]HVVHV NDQQ HEHQIDOOV KHOIHQ GHQ *HLVW DXI HLQHQ HLQ]LJHQ 3XQNW DXV]XULFKWHQ $XFK LQQHUHV =lKOHQ ]XU (U]HXJXQJ HLQHV $WHPUK\WKPXV WUlJW ]XU .RQ]HQWUDWLRQ EHL $OV PHFKDQLVFKH+LOIHNDQQKLHUEHLGDV0HWURQRPGLHQHQ:HQQPDQ
GHP ODXWHQ .OLFNHQ GLHVHV 7DNWJHEHUV ODXVFKW XQG GHQ HLJHQHQ $WHP GDPLW NRRUGLQLHUW VR ZLUNW DXFK GLHV VWlUNHQG DXI GLH .RQ]HQWUDWLRQVIlKLJNHLW 8QG GDV LVW QRFK QLFKW DOOHV 6HLW ODQJHP LVW EHNDQQW GD JHL VWLJH +\SHUDNWLYLWlW LQ LUJHQGHLQHU :HLVH PLW GHU $WHPJH VFKZLQGLJNHLWLQ=XVDPPHQKDQJVWHKW,P=XVWDQGJHLVWLJHU6W|UXQJ RGHU (UUHJXQJ ZLUG GLH $WPXQJ RIW VFKQHOOHU 'DUDXV N|QQWH PDQ VFKOLHHQ GD PDQ GXUFK ,QGX]LHUHQ HLQHU ODQJVDPHUHQ XQG UK\WKPLVFKHQ $WPXQJ =XVWlQGH JHLVWLJHU 9HUZLUUXQJ DXIO|VHQ N|QQWHVRGDPDQ QDFKGHPPDQVLFKDQGDV$WPHQQDFKHLQHP NXU]HQ=lKOVFKHPDJHZ|KQWKDW EHLVSLHOVZHLVHELVYLHUHLQDWPHQ XQG DQVFKOLHHQG ELV YLHU DXVDWPHQ GHQ $WHPUK\WKPXV DXI YLHU=lKO]HLWHQHLQDWPHQXQGDFKW=lKO]HLWHQDXVDWPHQHUZHLWHUQ NDQQ$XFKLQGLHVHP)DOOVROOWHPDQGDV:RUW©XQGª]ZLVFKHQ GHQHLQ]HOQHQ=lKO]HLWHQHLQIJHQXPQLFKWLQXQHUZQVFKWH(LOH ]X YHUIDOOHQ 9RU DOOHP VROOWH MHGH $QVSDQQXQJ YHUPLHGHQ ZHUGHQ'LHVNDQQQXUGHUJHVXQGH0HQVFKHQYHUVWDQGGHVhEHQGHQ YHUKLQGHUQ:HQQHUHLQHQLQGHUhEXQJHUIDKUHQHUHQ)UHXQGKDWVR N|QQWHGLHVHUDOVNRPSHWHQWHU/HKUHUIQJLHUHQXQGGDUDXIDFKWHQ GDGHUhEHQGHVLFKQLFKWYHUVSDQQWRGHUKDVWLJZLUGZlKUHQGHU VLFKHLQHQOlQJHUHQ$WHPUK\WKPXVDQ]XHLJQHQYHUVXFKW 'HQ*HLVW©IHVVHOQª
:HQQGHUhEHQGHHLQHJHZLVVH)HUWLJNHLWXQG/HLFKWLJNHLWLQGHU hEXQJ HUODQJW KDW NDQQ HU GHQ 5K\WKPXV DXI YHUVFKLHGHQH $UWHQ YHUlQGHUQ XQG ]ZDU DXV ]ZHL *UQGHQ HUVWHQV XP /DQJHZHLOH HLQHQ )HLQG GHU VWlQGLJ ODXHUW ]X YHUPHLGHQ XQG ]ZHLWHQV ZHLO VLFK GHU *HLVW DXI GLH GXUFK YHUVFKLHGHQH $WHPUK\WKPHQ KHU YRUJHUXIHQHQXQWHUVFKLHGOLFKHQ(PSILQGXQJHQIL[LHUW0LWDQGHUHQ :RUWHQ'LH (PSILQGXQJHQ VHOEVW I|UGHUQ GLH .RQ]HQWUDWLRQ ,FK NDQQ GLHV JDU QLFKW QDFKGUFNOLFK JHQXJ EHWRQHQ 0HLQHU (UIDKUXQJ QDFK LVW HV YRQ JU|WHU :LFKWLJNHLW XQG LFK ELQ GHU 0HLQXQJ GD GLH PRGHUQHQ $XWRULWlWHQ DXI GHP *HELHW GHU 0H GLWDWLRQ GLH VLFKHUOLFK ZHVHQWOLFK PHKU EHU .RQ]HQWUDWLRQ XQG 0HGLWDWLRQ ZLVVHQ DOV LFK GLHVH 7DWVDFKH QLFKW JHQJHQG EHWRQHQ 'LHHUVWHQ$QKDOWVSXQNWHIDQGLFKLQ]ZHLNODVVLVFKHQ:HUNHQ
EHU
$OV )ROJH KLHUYRQ NDQQ PDQ HLQ KRFKLQWHUHVVDQWHV 3KlQRPHQ EHREDFKWHQ :HQQ ]XP %HLVSLHO LQ GHQ )HQ HLQ PHUNZUGLJHV .LW]HOQ XQG 3ULFNHOQ DXIWULWW ZLUG GLH $XIPHUNVDPNHLW GHV hEHQGHQ DXWRPDWLVFK DXI GLHVHQ .|USHUEHUHLFK JHOHQNW 6R HQW ZLFNHOW VLFK HLQH .RQ]HQWUDWLRQ DXI GLH )H 'LH HUVWH $XVZLU NXQJ GLHVHU .RQ]HQWUDWLRQ LVW GD GLH (PSILQGXQJHQ QDFK HLQHU :HLOH XQJHKHXHU YHUVWlUNW ZHUGHQ 'LH )H IKOHQ VLFK OHEHQGLJ YLEULHUHQG XQG ZLH YRQ HOHNWULVFKHU (QHUJLH GXUFKVWU|PW DQ 'LHV NDQQHLQHJDQ]H:HLOHDQGDXHUQ :HQQQXQGLH.RQ]HQWUDWLRQXQHUVFKWWHUOLFKDQGLHVHP3XQNW YHUZHLOWJHVFKLHKWHWZDVY|OOLJ8QHUZDUWHWHV'DV.ULEEHOQEOHLEW
GRFKZHUGHQGLH)HDXIHLJHQDUWLJH:HLVHJHIKOORV$OOPlKOLFK YHUVFKZLQGHW MHJOLFKHV *HZDKUVHLQ GHU )H 'LHV LVW Y|OOLJ SDUDGR[ 'LH )H IKOHQ VLFK OHEHQGLJ XQG YLWDO DQ GRFK JOHLFK]HLWLJEHVWHKWNHLQXQPLWWHOEDUHV*HZDKUVHLQGHU)HPHKU +LHUDXV OlW VLFK HLQH $UW JUXQGOHJHQGHV *HVHW] DEOHLWHQ %HL OlQJHUHU.RQ]HQWUDWLRQDXIHLQH(PSILQGXQJYHUVFKZLQGHWGLHVHOEH QDFK HLQLJHU =HLW Y|OOLJ 'LH )H YHUVFKZLQGHQ DXV GHP %HZXWVHLQ :HQQ PDQ VLFK DXI (PSILQGXQJHQ LQ GHU 1DVH NRQ]HQWULHUHQ ZUGHZUGHPDQQDFKNXU]HU=HLWNHLQHUOHL*HZDKUVHLQGHU1DVH PHKU KDEHQ 6LH ZUGH Y|OOLJ DXV GHP :DKUQHKPXQJVIHOG YHUVFKZLQGHQ9LHOOHLFKWPWHPDQ LQGHQ6SLHJHOVFKDXHQRGHU PLW GHU +DQG GDV HLJHQH *HVLFKW DEWDVWHQ XP VLFK ]X YHUJHZLV VHUQGDGLH1DVHQRFKYRUKDQGHQLVW (LQH 0HWKRGH GLH DQ GLHVHV 3KlQRPHQHULQQHUW ZLUG YRQ GHU 6RWR6FKXOH GHV =HQ%XGGKLVPXV JHOHKUW ,Q GLHVHU 6FKXOH ZLUG HLQH 0HGLWDWLRQVEXQJ HPSIRKOHQ GLH GHQ 1DPHQ ©'LHVHU .|USHU LVW GHU %XGGKDª WUlJW :HQQ PDQ VLH EHU OlQJHUH =HLW DXVIKUW WUHWHQ SV\FKRORJLVFKH 3KlQRPHQH GHU REHQ HUZlKQWHQ $UW DXI GHQQ GDV *HZDKUVHLQ GHV .|USHUV YHUVFKZLQGHW XQG ZLUG GXUFK HLQH DQGHUH $UW YRQ *HZDKUVHLQ HUVHW]W :HQQ PDQ EHU GLHVH QHXH $UW GHV *HZDKUVHLQV PHGLWLHUW YHUVFKZLQGHW GLHVH DXI GLH JOHLFKH:HLVH $XHUNURIWVHW]HQGHV,FK
'LHVH (QWGHFNXQJ KDW IU HLQHQ 0HQVFKHQ GHU VLFK DXI GHP 3IDG EHILQGHW GLH HUQVWHVWHQ XQG ZHLWUHLFKHQGVWHQ .RQVHTXHQ]HQ ,Q GHQ PHLVWHQ 6FKXOHQ GHU 0\VWLN XQG GHV 2NNXOWLVPXV LVW HV HLQH $UW$[LRPGDGDV,FK RGHUGHUEHZXWH*HLVWRGHUGHU.RUWH[ GHV*HKLUQV GHU©'UDFKHQ DXIGHP:HJªLVW©'HU *HLVWLVWGHU 0|UGHU GHV 5HDOHQ 'HU 6FKOHU P|JH GHQ 0|UGHU HUPRUGHQª 'DV KHLWGHU*HLVWYHUKLQGHUWGLH(UNHQQWQLVGD*RWWKLHUXQGMHW]WLVW XQG GD HV LQ :LUNOLFKNHLW NHLQH 7UHQQXQJ ]ZLVFKHQ GHP 0HQVFKHQ XQG GHU 1DWXU RGHU ]ZLVFKHQ LUJHQGHLQHU (LQ]HOVHHOH XQG GHU *HVDPWKHLW GHV 8QLYHUVXPV JLEW 'LHVH (LQKHLW H[LVWLHUW VHLWXQYRUGHQNOLFKHQ=HLWHQXQGVLHZLUGDXFKIUDOOHNQIWLJH
=HLW H[LVWLHUHQ 1XU GLH *UHQ]HQ XQVHUHV 'HQNHQV XQVHUHV 2EHU IOlFKHQEHZXWVHLQV JHQlKUW GXUFK 6LQQHVUHL]H PDFKHQ XQV EOLQG IU GLH 5HDOLWlW GHU $OOJHJHQZDUW XQG ,PPDQHQ] *RWWHV 'LH © .HW]HUHLGHU$EJHWUHQQWKHLWªLVWLPZHVHQWOLFKHQHLQ3URGXNWGHV,FK DOVRNHLQH7DWVDFKH :HQQ HV JHOLQJHQ ZUGH GDV ,FK GXUFK LUJHQGHLQ +LOIVPLWWHO DXV]XVFKDOWHQ N|QQWHQ ZLU XQV GHU (LQKHLW DOOHQ /HEHQV EHZXW ZHUGHQ RGHU ZLU N|QQWHQ VLH DOV IDNWLVFK JHJHEHQ HUNHQQHQ ,P 6FKODI ZLUG GDV ,FK DXHU )XQNWLRQ JHVHW]W DOOHUGLQJV JOHLFK]HLWLJ DXI GLH :DKUQHKPXQJVIlKLJNHLW EHL 7UXQNHQKHLW ZLUG GDV ,FK YHUGXQNHOWGRFKGLH:DKUQHKPXQJHEHQIDOOV'XUFK.RQ]HQWUDWLRQ NDQQPDQVLFKGD]XHU]LHKHQDOOHV'HQNHQDXIHLQHQHLQ]LJHQ3XQNW ]XEQGHOQ XQGHVVFKOLHOLFKY|OOLJORV]XODVVHQ'LHVHV7UDLQLQJ ]LHOW DOVR GDUDXI GD ZLU OHUQHQ GDV 'HQNHQ DEVLFKWOLFK Y|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lFKVW GDV *HZDKUVHLQ GHV ,FK DX HURUGHQWOLFK YHUVWlUNW ZLUG 'DGXUFK N|QQWH GHU $QVFKHLQ HQW VWHKHQ DOV KlWWH PDQ GDV ,FK EHUPlLJ YHUJU|HUW XQG DOV ZlUH HLQH ,FK%HVHVVHQKHLW HQWVWDQGHQ 'RFK ZHQQ GHU =XVWDQG GHU .RQ]HQWUDWLRQ ZHLWHU DXIUHFKWHUKDOWHQ ZLUG OlW GLHVH ,FK%H VHVVHQKHLW DOOPlKOLFK QDFK XQG YHUVFKZLQGHW VFKOLHOLFK JDQ] DXV GHP*HZDKUVHLQ=XUFNEOHLEW HLQDXIDNWLYH:HLVHOHHUHU *HLVW VRSDUDGR[GLHVNOLQJHQPDQGHUVLFKVHKUNODUGHVVHQEHZXWLVW GDHUHLQVPLW*RWW/LHEH/HEHQXQG6FK|QKHLWLVW :HQQ ZLU GLH =LHOH GHV *URHQ :HUNV GHU (QWZLFNOXQJ YRQ .RQ]HQWUDWLRQ XQG 0HGLWDWLRQ EHQHQQHQ VROOWHQ VR VLQG HV GLHVH VLFK GHU HLJHQHQ HVVHQWLHOOHQ ,GHQWLWlW PLW GHU :XU]HO XQG 4XHOOH GHV /HEHQV VHOEVW NODU JHZDKU XQG ]X HLQHU EHZXWHQ $JHQWXU LKUHU VWlQGLJHQ $NWLYLWlW ]X ZHUGHQ 'LH 6HOEVWVXFKW GHUHQ :XU]HO LP ,FK OLHJW ZLUG VR VWDUN YHUJU|HUWGD VLHVFKOLHOLFKGDV6HOEVWGHV $OOVXPIDWGHQQ'DVLVW$OOHVZDVH[LVWLHUW0HGLWDWLRQEHUGDV
+LQGX0DQWUD 7DW 7YDP $VLZ ZLUG HQWKOOHQ GD JHQDX GLHV GHU 6LQQMHQHV0DQWUDVLVW 8P ]X GLHVHP HUK|KWHQ P\VWLVFKHQ %HZXWVHLQ ]X JHODQJHQ ZHOFKHV GDV =LHO DOOHU |VWOLFKHQ XQG ZHVWOLFKHQ 6\VWHPH LVW GLH ]XU (UOHXFKWXQJ IKUHQ ZROOHQ PVVHQ ZLU OHUQHQ YRQ GHU .RQ ]HQWUDWLRQ XQG 0HGLWDWLRQ *HEUDXFK ]X PDFKHQ 'LHV LVW GHU *UXQG ZHVKDOE ZLU XQV KLHU PLW 0|JOLFKNHLWHQ XQG 0LWWHOQ ]XU 0HLVWHUXQJGLHVHU.QVWHEHIDVVHQ +\SHUYHQWLODWLRQ
(V JLEW HLQ SK\VLRORJLVFKHV 3KlQRPHQ GHP ZLU DQ GLHVHU 6WHOOH XQVHUH $XIPHUNVDPNHLW VFKHQNHQ PVVHQ $QGHUQIDOOV ZUGH XQYHUVWlQGOLFK EOHLEHQ ZDV LQ HLQLJHQ IRUWJHVFKULWWHQHUHQ 6WDGLHQ GHU $WHPEXQJ JHVFKLHKW :HQQ PDQ GLH =HLW GHV $XVDWPHQV XQG GLH 3DXVH ]ZLVFKHQ $XVDWPHQ XQG (LQDWPHQ YHUOlQJHUW YHUOlW GHU JU|WH 7HLO GHV .RKOHQGLR[LGV GLH /XQJHQEOlVFKHQ XQG JURH 0HQJHQ6DXHUVWRIIZHUGHQDXIJHQRPPHQ )U GLHMHQLJHQ XQWHU PHLQHQ /HVHUQ GLHEHUHLWV6FKULIWHQ EHU
:LOKHOP 5HLFK GHU 3V\FKLDWHU XQG HLQVWLJH 6FKOHU )UHXGV HU NDQQWH GD PDQ GLHVHQ 9RUJDQJ IU GLH 3V\FKRWKHUDSLH QXW]HQ NDQQ ,Q DOOHU JHERWHQHQ %HVFKHLGHQKHLW P|FKWH LFK HUZlKQHQ GDHVPLUYRUEHKDOWHQEOLHE]XHUNHQQHQGDPDQGLHVHQ3UR]H DXFK ]XU (U]HXJXQJ HLQHV =XVWDQGHV GHU .RQ]HQWUDWLRQ EHQXW]HQ NDQQ 'XUFK (LQDWPHQ JURHU 0HQJHQ YRQ 6DXHUVWRII RGHU GXUFK $XVDWPHQ GHV LQ GHQ /XQJHQ EHILQGOLFKHQ .RKOHQGLR[LGV ZDV SUDNWLVFK DXI GDV JOHLFKH KLQDXVOlXIW YHUlQGHUW VLFK GLH FKH PLVFKH =XVDPPHQVHW]XQJ GHV %OXWHV GDV %OXW ZLUG VWlUNHU DO NDOLVFK 'DGXUFK ZLHGHUXP YHUlQGHUW VLFK GHU FKHPLVFKH =XVWDQG LP *HKLUQ ZDV ]X HLQHU JUXQGOHJHQGHQ 9HUlQGHUXQJ GHU *HKLUQ IXQNWLRQIKUW$XIGLHVH:HLVHWULWWHLQ=XVWDQGHLQZHOFKHUGHU 7UXQNHQKHLW lKQHOW PLW GHP 8QWHUVFKLHG GD HU QLFKW GXUFK $ONRKRO VRQGHUQ GXUFK 6DXHUVWRII KHUYRUJHUXIHQ ZLUG 'HU QRU PDOH )OX GHU *HGDQNHQ GLH*HIKOH XQG GLH .|USHUIXQNWLRQHQ ZHUGHQLQHUKHEOLFKHP0DHYHUlQGHUWXQGZHQQHLQ0HQVFKDXI GLHVH9HUlQGHUXQJHQ QLFKW GXUFKHLQH (UNOlUXQJ ZLHGLHVHKLHU YRUEHUHLWHW ZRUGHQ LVW NDQQ HU OHLFKW ]X GHU hEHU]HXJXQJ NRP PHQ GD HU ©YHUUFNWª ZUGH 7DWVlFKOLFK ZLUG HU DXV VHLQHU QRUPDOHQ HWZDV VWXSLGHQ )XQNWLRQVZHLVH KHUDXVJHULVVHQ XQG HLQH 9LHO]DKO YRQ (PSILQGXQJHQ SK\VLVFKHQ HPRWLRQDOHQ XQG PHQWDOHQ ZLUGLQGX]LHUW 'LH HLQ]LJHVRPDOLVFKH(UVFKHLQXQJYRUGHUPDQEHLGLHVHP 9RUJDQJ HLQ ZHQLJ DXI GHU+XW VHLQ PXLVW GHU=XVWDQG GHU 7HWDQLH'DEHLKDQGHOWHVVLFKXPHLQH$UW6WDUUHGLHDXIGHQ JHVDPWHQ .|USHU EHUJUHLIHQ NDQQ 6LH ZLUNW VLFK EHL MHGHP 0HQVFKHQ DQGHUV DXV ZHLO MHGHU 0HQVFK HLQ Y|OOLJ LQGLYLGXHOOHV 0XVWHU YRQ 0XVNHOYHUVSDQQXQJHQ KDW GDV PLW VHLQHU LQGLYLGX HOOHQ *HVFKLFKWH XQG PLW VHLQHP SHUV|QOLFKHQ HPRWLRQDOHQ +LQWHUJUXQG ]XVDPPHQKlQJW 'LH +\SHUYHQWLODWLRQ LQWHQVLYLHUW OHGLJOLFK GLH RKQHKLQ H[LVWLHUHQGHQ 0XVNHOYHUVSDQQXQJHQ VR VWDUNGD7HWDQLHDXIWUHWHQNDQQ 'LHVHV 3KlQRPHQ LVW LQ GHU
PHQ DXIWULWW VR LVW GLHV HLQ HLQGHXWLJHV $Q]HLFKHQ IU HLQHQ )RUW VFKULWW GHV hEHQGHQ %HL GHQ $WHPEXQJHQ GLH LQ GLHVHP .DSLWHO EHVFKULHEHQ ZXUGHQ NDQQ 7HWDQLH HLJHQWOLFK NDXP DXIWUHWHQ DXHU YLHOOHLFKW EHL GHU VHKU NOHLQHQ =DKO YRQ 0HQVFKHQ GLH VHKU IODFK DWPHQ 0HQVFKHQ PLW HLQHU K\VWHULVFKHQ &KDUDNWHUVWUXNWXU GLH DXHUGHP DXFK QRFK VHQVLEHO DXI HLQHQ hEHUVFKX DQ 6DXHU VWRII UHDJLHUHQ 1RUPDOHUZHLVH XQG DXI GLHVHQ 1RUPDOIDOO EH ]LHKWVLFKGLHJHVDPWHYRUOLHJHQGH'DUVWHOOXQJLQGHU+DXSWVDFKH ZLUG NDXP HLQHU XQWHU GHQ /HVHUQ GLHVHV %XFKHV VWXQGHQODQJ GLH EHVFKULHEHQHQ $WHPWHFKQLNHQ EHQ RGHU GLH IU GLH 3UD[LV GHV +DWKD
.RDQV
'LHV MHGRFK VLQG GLH HQWVFKHLGHQGHQ $XJHQEOLFNH ZHQQ GLH )XQNWLRQ GHV *HKLUQV XQG GHV ]HQWUDOHQ 1HUYHQV\VWHPV VLFK DXI UDGLNDOH :HLVH YHUlQGHUW KDW LQ GHQHQ PDQ MHGHV YHUIJEDUH 0LWWHO QXW]HQ VROOWH XP PLW DOOHP (LIHU XQG (QWKXVLDVPXV QDFK GHP +|FKVWHQ ]X VWUHEHQ ,Q GLHVHU 6LWXDWLRQ VLQG GLH XUDOWH )RUP GHV *HEHWV PDJLVFKH ,QYRNDWLRQHQ VRZLH PRGHUQH $IILUPDWLRQHQ YRQ JU|WHP 1XW]HQ 0DQWUDVGLHPDQ DQGLHVHP3XQNW]XEHQ EHJLQQWZHUGHQXQPLWWHOEDUYRP*HLVWDXIJHQRPPHQXQGZLUNHQ IDVWZLHGLHEHUKPWHQ.RDQVGHV=HQ%XGGKLVPXV 'RFK ZDV LVW HLQ .RDQ" 1DFK $QVLFKW GHU PHLVWHQ $XWRULWlWHQ DXI GLHVHP *HELHW LVW HLQ .RDQNHLQ 5lWVHO GDV GHU IOLQNH $IIHQ JHLVW FOHYHU O|VHQ NDQQ HEHQVRZHQLJ LVW HV HLQ UHLQ SV\FKRORJL VFKHV 0LWWHO XP GDV ]XYRU IUDJLOH ,FK GHV hEHQGHQ GXUFK HLQHQ 6FKRFN LQ HLQH QHXH $UW YRQ *OHLFKJHZLFKWV]XVWDQG ]X HUKHEHQ *DQ]JHZLLVWHVNHLQ3DUDGR[ GDVLVWHVQXUIUGLHMHQLJHQGLHHV QLH YRQ LQQHQ ZDKUJHQRPPHQ KDEHQ 9LHOPHKU KDQGHOW HV VLFK GDEHL XP HLQH HLQIDFKH NODUH XQG GLUHNWH $XVVDJH GLH HLQHP EHVWLPPWHQ %HZXWVHLQV]XVWDQG HQWVWDPPW GHP DXI GLHVH :HLVH JHKROIHQZHUGHQVROODQV/LFKW]XWUHWHQ 'HVKDOE YHUPDJ HLQH $IILUPDWLRQ RGHU HLQH ,QYRNDWLRQ GLH DQ GLHVHP 3XQNW GHU (QWZLFNOXQJ HLQJHVHW]W ZLUG GHQ hEHQGHQ LQ GHQK|FKVWHQ=XVWDQGVSLULWXHOOHQ%HZXWVHLQV]XHUKHEHQGHQHU]X HUUHLFKHQ YHUPDJ 'LH %HQXW]XQJ VROFKHU 0LWWHO NDQQ EHZLUNHQ GDGHU=XVWDQGGHU(UOHXFKWXQJVFKQHOOHUHLQWULWWMHQHV=LHOIUGDV HUVFKRQVRODQJHJHDUEHLWHWKDW(VLVWDOVZUGHPDQHLQHQ3IHLODXI HLQHQ JHVSDQQWHQ %RJHQ OHJHQ :HQQ GLH 6HKQH GHV %RJHQV VLFK HQWVSDQQW ZLUG GHU 3IHLO PLW JURHU .UDIW VHLQHP =LHO HQW JHJHQJHVFKOHXGHUW ©,FK KDEH DXI GHQ HQWEO|WHQ 6WDE PHLQHV *RWWHVJH]LHOWXQGLFKKDEHJHWURIIHQ IKUZDKULFKKDEHJHWURIIHQª $WHPYHUKDOWXQJ
1DFKGHP LFK EHU LQWHQVLYH $WPXQJ XQG EHU +\SHUYHQWLODWLRQ JHVSURFKHQKDEHP|FKWHLFKQXQDXFKNXU]HLQDQGHUHV3KlQRPHQ HUZlKQHQGDVJHQDXH*HJHQWHLOGHUHUVWJHQDQQWHQ:HQQ
HLQLJH GHU IRUWJHVFKULWWHQHUHQ (QWZLFNOXQJVSKDVHQ GHU 0HGLWDWLRQ HUUHLFKWZHUGHQVFKHLQWGLH$WPXQJPDQFKPDOY|OOLJDXV]XVHW]HQ ,Q :LUNOLFKNHLW ZLUG VLH LQ VROFKHQ )lOOHQ QXU VHKU OHLFKW XQG LVW GHVKDOEIDVWQLFKWPHKUZDKUQHKPEDU6LHILQGHWVR]XVDJHQ QXUQRFK XQWHUGHP=ZHUFKIHOOVWDWW ZDVRIWDOVLQQHUH$WPXQJEH]HLFKQHW ZLUG'LH7DRLVWHQIUKHUHU=HLWHQIDQGHQKLHUIUGHQVHKUVFK|QHQ 9HUJOHLFKPLWGHU©$WPXQJGHV.LQGHVLP0XWWHUVFKRª :HLWHUH$WHPWHFKQLNHQ
(V JLEW HLQH XUDOWH 9DULDQWH GHU $WHPWHFKQLN GLH YRU]JOLFK LQ LKUHU (LQIDFKKHLW XQG HUVWDXQOLFK LQ LKUHU :LUNXQJ LVW ,Q GLHVHP )DOOZLUGNHLQEHVWLPPWHU$WHPUK\WKPXVLQLWLLHUW.HLQHUOHL9HUVXFK ZLUGXQWHUQRPPHQGHQ$WHPDXILUJHQGHLQH:HLVH]XUHJXOLHUHQ 0DQDWPHWQXUY|OOLJQRUPDO:lKUHQGPDQGLHVWXWLVWPDQVLFK QXU JDQ] HLQIDFK GHU IROJHQGHQ EHLGHQ 9RUJlQJH EHZXW ©'HU $WHP VWU|PW KLQHLQ 'HU $WHP VWU|PW KHUDXVª 'DV LVW DOOHV (V NOLQJWVHKUHLQIDFKXQGLVWHVLP*UXQGHDXFK %HLP hEHQ QDFK GLHVHU 0HWKRGH ZLUG PDQ VLFK P|JOLFKHUZHLVH GHV (LQVWU|PHQV GHU /XIW DQ GHQ 1DVHQO|FKHUQ EHVRQGHUV EHZXW VSlWHU GHU 1DVHQPXVFKHOQ GHU REHUHQ %HUHLFKH GHU 1DVH QRFK VSlWHU UFNW GLH .HKOH GDQQ GHU %URQFKLDOEDXP XQG VFKOLHOLFK GLH /XQJH VHOEVW LQ GHQ 0LWWHOSXQNW GHV *HZDKUVHLQV (V N|QQWH KLOIUHLFK VHLQ VLFK GDV (LQ XQG $XVVWU|PHQ GHU /XIW DOV HLQHQ ZHLHQ 1HEHO YRU]XVWHOOHQ GHQ PDQ EHREDFKWHQ XQG GHVVHQ :HJ PDQYHUIROJHQNDQQ8QGZlKUHQGPDQGLHVWXW NRQ]HQWULHUWPDQ VLFK $XHUGHP NDQQ HV VHLQ GD PDQ VLFK GXUFK GLHVH $WHPWHFK QLNHQXQGGXUFKGLHHUKHEOLFKYHUEHVVHUWH.RQ]HQWUDWLRQVIlKLJNHLW GHU 7DWVDFKH EHZXW ZLUG GD PDQ ZHVHQWOLFK YLWDOHU JHZRUGHQ LVW0DQKDWGDV*HIKOMHGH=HOOHXQG3RUHGHVHLJHQHQ6HLQVVHL YRQ NRVPLVFKHU (QHUJLH GXUFKVWU|PW XQG JHVlWWLJW :HQQ PDQ GLHVHQ3XQNWGHUhEXQJHUUHLFKWKDWPDPDQOHUQHQGLH(QHUJLH ]LUNXOLHUHQ ]X ODVVHQ XQG DXI GLHVH :HLVH GHP *HLVW (QHUJLH ]X HQW]LHKHQ ZRPLW ZLU ZLHGHU EHL HLQHP EHUHLWV IUKHU DQJHVSURFKHQHQ 7KHPD VLQG :HQQ PDQ GLHVH )lKLJNHLW HUZRUEHQ KDWEUDXFKWPDQQXU]XGHQNHQXQG]XZROOHQGDGLH(QHUJLH
VLFKEHZHJWXQGQDWUOLFKEHZHJWVLHVLFKGDQQ(VJLEWYHUVFKLH GHQH0HWKRGHQXPGLHVH=LUNXODWLRQKHUEHL]XIKUHQ (QHUJLH]LUNXODWLRQ
'LH DOWH NDEEDOLVWLVFKH 0HWKRGH EHVWHKW GDULQ VLFK DXI GHQ K|FKVWHQ 3XQNW GHV .RSIHV ]X NRQ]HQWULHUHQ XQG VLFK YRU]XVWHOOHQ GLHV VHL GDV =HQWUXP GHV HLJHQHQ VSLULWXHOOHQ /HEHQV XQG GDV 8QLYHUVDOH 6HOEVW *OHLFK]HLWLJ VWHOOW PDQ VLFK YRU XQG ZLOO GD DOOH (QHUJLHQ LQ GHQ QLHGHUHQ .|USHUUHJLRQHQ DOOPlKOLFK QDFK REHQ JH]RJHQ VR]XVDJHQ KRFKJHVDXJW ZHUGHQ KLQ ]XP /LFKW EHU GHP K|FKVWHQ 3XQNW GHV .RSIHV 6WHWLJHV hEHQ LVW DXFK KLHU HUIRUGHUOLFK PDQ PX 7DJ IU 7DJ EHQ 9LWYDQ VDJW HLQHV 7DJHV NRPPH HV EHL GLHVHU $UW GHU hEXQJ ]X HLQHU LQQHUHQ ([SORVLRQ GHU HOHNWULVFKH 6FKDOWNUHLV VHL GDQQ JHVFKORVVHQ XQG GLH (UOHXFKWXQJ WUHWH HLQ 0DQ ZHL'RFK GLHVPDO KDQGHOW HV VLFK QLFKW XP HLQ :LVVHQ GHV *HKLUQV RGHU GHV *HLVWHV VRQGHUQ XP GLH 5HDOLVDWLRQ GHV HLJHQHQ J|WWOLFKHQ 8UVSUXQJV XQG GHU HLJHQHQ J|WWOLFKHQ 1DWXU GDV =LHO DOOHU P\VWLVFKHQ $UEHLW XQG GHU $QIDQJ GHU VSLULWXHOOHQ)UHLKHLW 'LH VRHEHQ VHKU VXPPDULVFK EHVFKULHEHQH 0HWKRGH ZLUG DXV IKUOLFKHU LP OHW]WHQ .DSLWHO GLHVHV %XFKHV 'LH .XQVW GHV ZDKUHQ +HLOHQVEHVFKULHEHQ 6LH EHVWHKW LP ZHVHQWOLFKHQ GDULQ GD PDQ GLH =HQWUHQ LQQHUKDOE GHV 2UJDQLVPXV YLVXDOLVLHUW XQG LQQHUKDOE GLHVHU =HQWUHQ JHZLVVH NDEEDOLVWLVFKH 1DPHQ YLEULHUW 'DGXUFK HQWZLFNHOW VLFK HLQ XQJHKHXUHV 0D DQ (QHUJLH E]Z GLHVH (QHUJLHPHQJHQZHUGHQIUHLJHVHW]WGLHPDQDXIYLHOIlOWLJH:HLVHLP .|USHU ]LUNXOLHUHQ OlW ELV GHU 2UJDQLVPXV YRQ HLQHU ULHVLJHQ VLFK GUHKHQGHQ.XJHOYRQ/LFKWHQHUJLHXPKOOWLVW (LQH lKQOLFKH 0HWKRGH GHU (QHUJLH]LUNXODWLRQ ZXUGH YRU ODQJHU =HLW HLQPDO YRQ GHQ FKLQHVLVFKHQ 7DRLVWHQ SUDNWL]LHUW /HVHU GLH VLFK KLHUIU LQWHUHVVLHUHQ VHLHQ DXI 5LFKDUG :LOKHOPV hEHUVHW]XQJ GHV DOWFKLQHVLVFKHQ 7H[WHV 'DV *HKHLPQLV GHU JROGHQHQ %OWH PLWGHUEHUKPWHQ(LQOHLWXQJYRQ&*-XQJ YHUZLHVHQ 5LFKDUG :LOKHOP hEHUV 'DV *HKHLPQLV GHU JROGHQHQ %OWH PLW HLQHP 9RUZRUW YRQ & * -XQJ :DOWHU9HUODJ gOWHQ XQG 'LHGHULFKV 9HUODJ*HOEH5HLKH 0QFKHQ
:HQQ GLHVH 6WXIH GXUFK DXIUHFKWH +DOWXQJ XQG HLQIDFKH $WHP XQG 0DQWUDhEXQJHQ HUUHLFKW ZRUGHQ LVW VWHKW HV GHP hEHQGHQ IUHL QDFK %HOLHEHQ LQ GHQ =XVWDQG GHU .RQ]HQWUDWLRQ HLQ]XWUHWHQ 9RQ QXQ DQ NDQQ HU HLQLJH GHU NODVVLVFKHQ hEXQJHQ SUDNWL]LHUHQ GLH HLQH P\VWLVFKH (UIDKUXQJ HUP|JOLFKHQ 2E PDQ HV (LQKHLW PLW *RWW (QWGHFNXQJ GHV ,QQHUHQ 6HOEVW RGHU 9HUZLUNOLFKXQJ XQG (UNHQQWQLV 5HDOLVDWLRQ GHU %XGGKDQDWXU QHQQW GLHV LVW GDV DQ ]XVWUHEHQGH =LHO VREDOG GLH .RQ]HQWUDWLRQVIlKLJNHLW HQWZLFNHOW ZRUGHQLVW 9LVXDOLVLHUHQYRQ2EMHNWHQ
0DQ NDQQ IU 9LVXDOLVDWLRQV XQG .RQ]HQWUDWLRQVEXQJHQ JDQ] DOOWlJOLFKH 2EMHNWH EHQXW]HQ 8P GLHV ]X YHUGHXWOLFKHQ P|FKWH LFK KLHU HLQH NODVVLVFKH ,QVWUXNWLRQVIROJH IU 'KDUDQD *HGDQ NHQNRQWUROOH DQIKUHQ GLH VLFK DXI GLHVHU 6WXIH GHU hEXQJ DOV lXHUVWQW]OLFKHUZHLVHQN|QQWH
=ZLQJH GHQ *HLVW VLFK DXI HLQ HLQ]LJHV LPDJLQLHUWHV 2EMHNW ]X NRQ ]HQWULHUHQ 'LH IQI 7DWWYDV HLJQHQ VLFK KLHUIU 6LH VLQG HLQ VFKZDU]HV 2YDO HLQH EODXH 6FKHLEH HLQ VLOEHUQHU +DOEPRQG HLQ JHOEHV 4XDGUDW HLQ URWHV 'UHLHFN *HKH VSlWHU ]XU .RPELQDWLRQ HLQIDFKHU 2EMHNWH EHU DOVR EHLVSLHOV ZHLVHHLQVFKZDU]HV2YDOLQHLQHPJHOEHQ.UHLVXVZ )DKUH PLW HLQIDFKHQ VLFK EHZHJHQGHQ 2EMHNWHQ IRUW HWZD PLW HLQHP VFKZLQJHQGHQ3HQGHOPLWHLQHPVLFKGUHKHQGHQ5DGXVZ0HLGHOHEHQGLJH 2EMHNWH *HKH DQVFKOLHHQG ]X .RPELQDWLRQHQ YRQ VLFK EHZHJHQGHQ 2EMHNWHQ EHU ]XP %HLVSLHO ]XP $XI XQG $EVWHLJHQ HLQHV .ROEHQV ZlKUHQG JOHLFK]HLWLJ HLQ 3HQGHO VFKZLQJW 'LH %H]LHKXQJ ]ZLVFKHQ GHQ EHLGHQ %HZHJXQJHQVROOWHLQYHUVFKLHGHQHQ([SHULPHQWHQYDULLHUWZHUGHQ0DQ NDQQ DXFK HLQ 6\VWHP YRQ 6FKZXQJUlGHUQ ([]HQWHUVFKHLEHQ XQG HLQHP 5HJOHUEHQXW]HQ :lKUHQG GLHVHU hEXQJHQ PX GHU *HLVW DEVROXW DXI GDV MHZHLOV JHZlKOWH 2EMHNW NRQ]HQWULHUW EOHLEHQ .HLQ DQGHUHU *HGDQNH GDUI LQ GDV %HZXWVHLQ HLQGULQJHQ %HZHJOLFKH 6\VWHPH VROOHQ VLFK UHJHOPlLJ XQGKDUPRQLVFKEHZHJHQ
U
$FKWH JHQDX DXI GLH 'DXHU GHU ([SHULPHQWH DXI =DKO XQG $UW GHU ZlKUHQGGHVVHQDXIWDXFKHQGHQ*HGDQNHQDXIGLH7HQGHQ]GHV2EMHN WHV VHOEVW YRP LKP YRUEHVWLPPWHQ .XUV DE]XZHLFKHQ VRZLH DXI MHGHV DQGHUH HYHQWXHOO DXIWDXFKHQGH 3KlQRPHQ 9HUPHLGH hEHUDQVWUHQJ XQJ GLHVLVWVHKUZLFKWLJ 'LH$QZHQGXQJYRQ+\SQRVH
:LU PVVHQ XQV QRFK PLW HLQHU ZHLWHUHQ 0HWKRGH EHVFKlIWLJHQ GLH GDV 0LWZLUNHQ HLQHV JHVFKXOWHQ 0LWDUEHLWHUV HUIRUGHUOLFK PDFKW ,FK ELQ GHU 0HLQXQJ GD K\SQRWLVFKH 6XJJHVWLRQ ZHQQ VLH YRQ HLQHP YHUWUDXHQVZUGLJHQ /HKUHU DXVJHIKUW ZLUG GHU LQ GHU 0HGLWDWLRQ HUIDKUHQ LVW YRQ XQJHKHXUHP :HUWVHLQ NDQQ'LV]LSOLQ XQG DXVGDXHUQGHV hEHQ ZHUGHQ GDGXUFK NHLQHVZHJV XQQ|WLJ GRFK HUOHLFKWHUW K\SQRWLVFKH 6XJJHVWLRQ PDQFKHQ 0HQVFKHQ GLH (QWZLFNOXQJHLQHUhEXQJVURXWLQH ,VW GHU 6FKOHU IU 6XJJHVWLRQ HPSIlQJOLFK VXJJHVWLEHO VR EH VWHKW NHLQ *UXQG ZHVKDOE GHU 0HGLWDWLRQVOHKUHU GHP 6FKOHU QLFKW GXUFK HLQ SDDU +\SQRVHVLW]XQJHQ JHZLVVH JUXQGOHJHQGH ,GHHQ QDKHEULQJHQ VROO :HQQ GLH HOHPHQWDUHQ XQG YRUEHUHLWHQGHQ K\SQRWLVFKHQ ,QGXNWLRQHQ VLFK DOV ZLUNVDP HUZLHVHQ KDEHQ N|QQWH EHLVSLHOVZHLVH VXJJHULHUW ZHUGHQ GD GHU 6FKOHU WlJOLFK EHQVROOWH9RUKHUVROOWHMHGRFKLQHLQHP*HVSUlFKJHNOlUWZHUGHQ ZLH RIW XQG ZDQQ GHU %HWUHIIHQGH EHQ NDQQ XQG RE HU GLHV EHUKDXSW ZQVFKW 'DQQ ZLUG ZlKUHQG GHU +\SQRVH GLH $Q]DKO GHU WlJOLFKHQ hEXQJV]HLWHQ VRZLH GLH MHZHLOLJH 'DXHU GHUVHOEHQ IHVWJHOHJW 'HU /HKUHU N|QQWH HLQH JHZLVVH =HLW ZDUWHQ XP IHVW ]XVWHOOHQ RE GHU 6FKOHU NRRSHULHUW XQG DXI GLH K\SQRWLVFKH 6XJJHVWLRQ UHDJLHUW )DOOV HU HUNHQQEDU GDUDXI UHDJLHUW N|QQWHQ GLH 6XJJHVWLRQHQ DXVJHZHLWHW ZHUGHQ %HLVSLHOVZHLVH N|QQWH GDQQ VXJJHULHUW ZHUGHQ GD HV GHP 6FKOHU YRQ QXQ DQ OHLFKWIDOOHQ ZLUG EHLP hEHQ ]X GLHVHU RGHU MHQHU =HLW DP 0RUJHQ DP 0LWWDJ XQGRGHU DP $EHQG DOOH VHLQH PHQWDOHQ .UlIWH DXI HLQH )ROJH YRQ YRUKHU IHVWJHOHJWHQ 7KHPHQ 6\PEROHQ RGHU .RQ]HSWHQ ]X NRQ ]HQWULHUHQ 8QWHU 8PVWlQGHQ HUIRUGHUW HV EHWUlFKWOLFKHQ 1DFK GUXFN XQG YLHOH :LHGHUKROXQJHQ ELV GHUDUWLJH 6XJJHVWLRQHQ LKUH :LUNXQJ WXQ GRFK JLEW HV NHLQHQ YHUQQIWLJHQ *UXQG DXI GHU :HOW ZHVKDOEPDQVLFKLKUHUQLFKWEHGLHQHQVROOWH
2IW KHLW HV VROFKH 0HWKRGHQ ZUGHQ GLH SHUV|QOLFKH 9HUDQW ZRUWXQJ GHV 6FKOHUV DXVVFKDOWHQ ZHLO HU VLFK GLH VXJJHULHUWHQ ,QKDOWH QLFKW VHOEVW ]X HLJHQ PDFKH 'LHVHV $UJXPHQW HQWEHKUW MHGRFK MHJOLFKHU *UXQGODJH 6XJJHVWLRQHQ N|QQHQ QLHPDQGHP GLH 1RWZHQGLJNHLW VWHWLJHQ KDUWHQ XQG YHUWUDXHQVYROOHQ hEHQV DE QHKPHQ $XHUGHP KDW GHU hEHQGH MD PLW VHLQHP /HKUHU ]XYRU EHVSURFKHQ ZDV GLHVHU LQ GHU +\SQRVH VXJJHULHUHQ VROO XQG ZDV QLFKW XQG KDW VHLQH XQHLQJHVFKUlQNWH (LQZLOOLJXQJ LQ GLH JHVDPWH 3UR]HGXU JHJHEHQ 7URW] +\SQRVH ZLUG HV VLFKHUOLFK QLHPDQGHP HUVSDUW EOHLEHQ VHLQHQ *HLVW ]X NRQ]HQWULHUHQ XQG LQ MHGHP )DOO ZLUG PDQ YLHO =HLW XQG 0KH DXIZHQGHQ PVVHQ XP ]XP (UIROJ ]X JHODQJHQ $Q GHQ WUDGLWLRQHOOHQ 0HWKRGHQ YHUlQGHUW +\SQRVH QLFKWV DXHU YLHOOHLFKW GD VLH HLQHQ ]XVlW]OLFKHQ $QUHL] RGHU HLQH]XVlW]OLFKH0RWLYDWLRQOLHIHUW 0DQ VROOWH DXFK LPPHU GDUDQ GHQNHQ GD DOOH )UHPGVXJJH VWLRQHQ OHW]WOLFK ]X $XWRVXJJHVWLRQHQ ZHUGHQ 'HU +\SQRWLVLHUWH VHOEVW LVW HV GHU GLH 6XJJHVWLRQ DQQLPPW HU EHGLHQW VLFK OHGLJOLFK GHU+LOIHHLQHVDQGHUHQ0HQVFKHQ GHV+\SQRWLVHXUV ,Q HLQHP JHZLVVHQ 6LQQH LVW GHU :HUW GLHVHU $UW YRQ +LOIH VFKRQ VHLWODQJHPEHNDQQW0DQFKPDOZXUGHHVGHP6FKOHUJHVWDWWHWLQ *HVHOOVFKDIWRGHULQGHU$WPRVSKlUHVHLQHV/HKUHUV]XPHGLWLHUHQ :HQQ GHU 6FKOHU HLQH hEHUWUDJXQJVEH]LHKXQJ ]X VHLQHP /HKUHU HQWZLFNHOW RGHUZHQQHUGHQ/HKUHU ]XWLHIVWYHUHKUWVRNDQQVLFK GLHVH $UW GHU hEXQJ DOV lXHUVW QW]OLFK HUZHLVHQ 0DQFKPDO ZLUGDXFKGDV0HGLWLHUHQLQ*UXSSHQDOV+LOIVPLWWHOHLQJHVHW]W(V KHLWZHQQHLQH*UXSSHJHPHLQVDPLQHLQHU0HGLWDWLRQVKDOOHEH VR ZLH HV LP =HQ%XGGKLVPXV EOLFK LVW ZUGHQ DOOH LQ HUKHEOLFKHP 0DH GDYRQ SURILWLHUHQ ZHLO VLH VLFK VFKQHOOHU XQG OHLFKWHUNRQ]HQWULHUHQN|QQWHQ ,FK ]ZHLIHOH QLFKW DQ GHU :LUNVDPNHLW DOO GLHVHU 0HWKRGHQ ,FK PHLQH OHGLJOLFK IDOOV VLH ZLUNVDP VLQG PX DXFK GLH K\SQRWLVFKH 6XJJHVWLRQ LKUHQ :HUW KDEHQ XQG GHVKDOE VROOWH VLH LQ EHVWLPPWHQ )lOOHQ DOV 0LWWHO ]XU hEHUZLQGXQJ KDUWQlFNLJHQ :LGHUVWDQGV DQGHUHU+LQGHUQLVVHEHQXW]WZHUGHQ 6FKOLHOLFK P|FKWH LFK QRFK HPSIHKOHQ EHL $XVIKUXQJ GHU HUZlKQWHQ hEXQJHQ LQ MHGHP )DOO HLQH $UW hEXQJVWDJHEXFK ]X IKUHQ 'DULQ VROOWHQ HLQIDFK GLH DXVJHIKUWHQ hEXQJHQ GLH 7D JHV]HLW ]X GHU VLH DXVJHIKUW ZXUGHQ GLH 6WLPPXQJ LQ GHU PDQ VLFK]XMHQHP=HLWSXQNWEHIDQGGLHMHZHLOLJH:LWWHUXQJVRZLHDOOH
DQGHUHQ (LQ]HOKHLWHQ YHUPHUNW ZHUGHQ YRQ GHQHQ 6LH JODXEHQ VLH N|QQWHQ (LQIOX DXI GLH hEXQJHQ XQG GLH hEXQJVHUIDKUXQJHQ KDEHQ 'LH $XI]HLFKQXQJHQ VROOWHQ VR DXVIKUOLFK ZHQQ DXFK QLFKW XQEHGLQJW XPIDQJUHLFK ZLH P|JOLFK VHLQ (LQHV 7DJHV ZHQQ 6LH HLQHQ JHZLVVHQ )RUWVFKULWW JHPDFKW KDEHQ ZHUGHQ 6LH GHQ JURHQ :HUW GLHVHU $XI]HLFKQXQJHQ HUNHQQHQ 8QG ZHQQ 6LH GDV*OFNKDEHQPLWHLQHP/HKUHUDUEHLWHQ]XN|QQHQZLUGGLHVHU VLFKHUOLFK JHUQH GLH $XI]HLFKQXQJHQ VHKHQ ZROOHQ XP IHVW]XVWHOOHQZLHVRUJIlOWLJ6LHJHZHVHQVLQG 'LHK|FKVWH(LQKHLW
,Q GHQ ZHLWHU REHQ ]LWLHUWHQ ,QVWUXNWLRQHQ ZHUGHQ QXU GLH HLQ IDFKVWHQ 2EMHNWH ]XU %HJUHQ]XQJ GHV *HLVWHV DXI HLQHQ HLQ]LJHQ 3XQNW HUZlKQW 2IW IKUHQ 2EMHNWH YRQ UHOLJL|VHU P\VWLVFKHU RGHU RNNXOWHU %HGHXWXQJ ZHVHQWOLFK VFKQHOOHU ]X GHQ JHZQVFKWHQ (UJHEQLVVHQ 8QG ZHQQ PDQ XQV UlW ZLU VROOWHQ ©DUEHLWHQ RKQH JOHLFK DXI GDV (UJHEQLV ]X VFKLHOHQªVR LVW GLHVH (LQVWHOOXQJ ZRKO HKHU HLQ (UJHEQLV DOV HLQH 9RUDXVVHW]XQJ P\VWLVFKHU (UIDKUXQJ :HQQ ZLU HLQPDO GHQ *RWW LP HLJHQHQ ,QQHUHQ HQWGHFNW KDEHQ NRPPW HV LQ DOOHQ XQVHUHQ 5HDNWLRQHQ DXI XQVVHOEVW LQXQVHUHU 8PJHEXQJ GLH DOV VHOEVWJHVFKDIIHQ JHVHKHQ ZLUG ]X HLQHU JH ZDOWLJHQ 5HYROXWLRQ (LQH GLHVHU 9HUlQGHUXQJHQ EHVWHKW QDWUOLFK GDULQ GD GLH )UFKWH XQVHUHV +DQGHOQV XQV JOHLFKJOWLJ ZHUGHQ 'LHV LVW .DUPD
(V EHLQKDOWHW )UHLKHLW LP XPIDVVHQGVWHQ XQG SKLORVRSKLVFKVWHQ 6LQQH GHV :RUWHV 'LH (LQKHLW XQG 8QLYHUVDOLWlW GHV /HEHQV GHU /LHEH XQG GHU 6FK|QKHLW VLQG GLH VSLULWXHOOHQ .RPSRQHQWHQ GHU (UOHXFKWXQJ GLH PLW (KUIXUFKW 6WDXQHQ XQG ZDKUHU (LQIDFKKHLW UHDOLVLHUWZHUGHQ©'LH(UGHLVWGHV+HUUQXQGVHLQHU)OOHª8QGGD 7DWWYDPDVLLQGHU0HGLWDWLRQDOV:DKUKHLWHUIDKUHQZLUGVLQGGHU 0HGLWLHUHQGHXQGGHU+HUUHLQV :R]X DOVR DOO GLHVH KDUWH $UEHLW GLH 'LV]LSOLQ XQG GDV XQDE OlVVLJH*HEHWGLHVHHQWVHW]OLFKH$QVWUHQJXQJ]XU(QWZLFNOXQJGHU .RQ]HQWUDWLRQ"(LQLJHGHUDQJHVWUHEWHQ=LHOHVLQGDXIHLQIDFKH:HLVH EHVFKULHEHQZRUGHQ LFKEH]ZHLIOHDOOHUGLQJVGDHLQH%HVFKUHLEXQJ GHU JHVXFKWHQ RGHU DQJHVWUHEWHQ P\VWLVFKHQ=XVWlQGH LUJHQGHWZDV *QVWLJHV EHZLUNHQ ZUGH -HGRFK P|FKWH LFK ]XP $EVFKOX GLHVHV .DSLWHOV EHPHUNHQ GD LFK QLFKWV %HVVHUHV WXQ NDQQ DOV EHLVSLHOKDIW GLH ,OOXPLQDWLRQHQ GHV -DNRE %|KPH HLQHV GHU JU|WHQFKULVWOLFKHQ0\VWLNHUDOOHU=HLWHQ]X]LWLHUHQ $OV HU HLQHV 7DJHV LQ VHLQHU .DPPHU VD ©ILHOHQ VHLQH $XJHQ DXI HLQHQ SROLHUWHQ =LQQWLVFK GHU GHQ 6RQQHQVFKHLQ PLW VR ZXQGHU YROOHP *ODQ] VSLHJHOWH GD HU LQ HLQH LQQHUH (NVWDVH YHUILHO XQG HV LKP HUVFKLHQ DOV RE HU QXQ LQ GLH 3ULQ]LSLHQ XQG LQ GLH WLHIVWHQ *UXQGODJHQ DOOHU 'LQJH KLQHLQVFKDXHQ N|QQWH =XQlFKVW KLHOW HU GLHV IU HLQH 3KDQWDVLH XQG XP GLHVHOEH DXV VHLQHP *HLVWH ]X YHUEDQQHQEHJDEHUVLFKLQGLHIUHLH1DWXU'RUWMHGRFKVWHOOWHHU IHVWGDHULQGDV+HU]GHU'LQJHVFKDXWHLQGDV+HU]GHU3IODQ]HQ XQG *UlVHU XQG GD GLH 1DWXU VLFK PLW GHP ZDV HU LP HLJHQHQ ,QQHUHQ JHVHKHQ KDWWH LQ +DUPRQLH EHIDQG (U HUZlKQWH GLHVHV (UOHEQLV NHLQHP 0HQVFKHQ JHJHQEHU VRQGHUQ SULHV *RWW GDIU XQG GDQNWHLKPVWLOOª 1LFKW ODQJH QDFK GLHVHU HUVWHQ (UOHXFKWXQJ ©ZXUGH HU HUQHXW YRQJ|WWOLFKHP/LFKWXPKOOWXQGYRQKLPPOLVFKHP:LVVHQHUIOOW (U ZDQGHUWH GXUFK GLH )HOGHU LQ HLQHQ :DOG YRU GHP 1HLHWRU LQ *|UOLW] VHW]WH VLFK GRUW QLHGHU XQG LQGHP HU GLH 3IODQ]HQ XQG *UlVHU GHV )HOGHV LQ VHLQHP LQQHUHQ /LFKW EHWUDFKWHWH VDK HU LKU :HVHQ LKUH (LJHQVFKDIWHQ XQG ZLH PDQ VLH QXW]EULQJHQG YHU ZHQGHQ NRQQWH GLHV ZXUGH LKP GXUFK LKUH MHZHLOLJH =HLFKQXQJ LKUH )RUP XQG GXUFK DQGHUH 0HUNPDOH HQWKOOW (EHQVR EH WUDFKWHWH HU GLH JHVDPWH 6FK|SIXQJ XQG DXIJUXQG GLHVHU %H WUDFKWXQJHQ VFKULHE HU VSlWHU VHLQ %XFK 'H 6LJQDWXUH 5HUXP :lKUHQGVLFKLKPGLHVH0\VWHULHQHQWKOOWHQHUIXKUHUJURH
)UHXGH GRFK NHKUWH HU VFKOLHOLFK ]X VHLQHU )DPLOLH ]XUFN VRUJWH IUVLHOHEWHLQJURHP)ULHGHQXQGLQ6WLOOHXQGVSUDFKNDXPEHU GLHZXQGHUYROOHQ'LQJHGLHLKPZLGHUIDKUHQZDUHQª
,9'LH.DEEDODGHU=DKOHQXQG%HGHXWXQJHQ
/LWHUDWXUHPSIHKOXQJHQ]XP7KHPD0HGLWDWLRQ
-RHO*ROGVPLWK7KH$UWRI0HGLWDWLRQ
3DWDQMDOL'LH:XU]HOQGHV
)UDWHU3HUGXUDER$OHLVWHU&URZOH\ 7HLO(LQVYRQ%RRN)RXU %XGGKLVW/RGJH/RQGRQ &RQFHQWUDWLRQDQG0HGLWDWLRQ
&ODXGLR 1DUDQMR5REHUW 2UQVWHLQ 3V\FKRORJLH GHU 0HGLWDWLRQ )LVFKHU 7%,QGLHVHP%XFKZLUGXQWHUDQGHUHPGHUNRQ]HQWUDWLYH=XJDQJ ]XU0HGLWDWLRQDXVIKUOLFKEHVFKULHEHQ $QPGhEHUV
9LWYDQ0HGLWDWLRQ6FKRRORIWKH1DWXUDO2UGHU 5XWK)OOHU6DVDNL7KH=HQ.RDQ
,JQDWLXVYRQ/R\ROD'LH([HU]LWLHQ0DWWKHV 6HLW]
.DUO:HLQIXUWHU+DQGEXFKIUGLH6FKOHUGHUSUDNWLVFKHQ0\VWLN %DXHU
5HLQKROGYRQ:DOWHU+J_$XIULFKWLJH(U]lKOXQJHQHLQHVUXVVLVFKHQ3LO JHUV +HUGHU7DVFKHQEXFK)UHLEXUJL%U
(LQH(LQIKUXQJLQGLH3UD[LV NDEEDOLVWLVFKHU%HUHFKQXQJHQ
$OV LFK XQJHIlKU VHFK]HKQ -DKUH DOW ZDU LQWHUHVVLHUWH LFK PLFK VR LQWHQVLY IU GLH .DEEDOD GD LFK GLH ZHQLJHQ 9HU|IIHQWOLFKXQJHQ ]X GLHVHP 7KHPD GLH HV ]X MHQHU =HLW JDE JHUDGH]X YHUVFKODQJ (V ZDU VRZRKO LQ TXDQWLWDWLYHU DOV DXFK LQ TXDOLWDWLYHU +LQVLFKW HU VWDXQOLFKZHQLJ 'DLFKGDPDOVLQ:DVKLQJWRQ'&ZRKQWHZXUGHGLH/LEUDU\RI &RQJUHVVVR]XVDJHQ ]X PHLQHP ]ZHLWHQ :RKQVLW] (V PDFKWH PLU XQJHKHXUHQ6SDQLFKWQXUGLHULHVLJHQ.DUWHLHQ]XGXUFKVW|EHUQ VRQGHUQQDFK(UKDOWGHUHQWVSUHFKHQGHQ(UODXEQLVDXFKGLHYLHOHQ 5HJDOH ,P /DXIH GHU =HLW OHUQWHLFK GHQ ZLVVHQVFKDIWOLFKHQ /HLWHU GHU 6HPLWLVFKHQ $EWHLOXQJ GHU %LEOLRWKHN NHQQHQ GHP LFK HLQ EUHQQHQGHV 9HUODQJHQ JHVWDQG ,FK KRIIWH GDPDOV LUJHQGZDQQ HLQPDO HLQLJH GHU DOWHQ 7H[WH EHUVHW]HQ ]X N|QQHQ GLH ELV ]X MHQHP =HLWSXQNW QXU LQ KHEUlLVFKHU XQG DUDPlLVFKHU 6SUDFKH H[LVWLHUWHQ (U HPSIDKO PLU GDUDXIKLQ HLQHQ +HEUlLVFK/HKUHU 'LHVHUZDUHLQMXQJHU0DQQGHULQ:DVKLQJWRQHLQ&ROOHJHEHVXFKWH XQG GHU VLFK HWZDV *HOG YHUGLHQHQ PXWH XP VHLQHQ $XIHQWKDOW LQGHU6WDGW]XILQDQ]LHUHQ ,FK HUKLHOW YRQ LKP HLQ -DKU ODQJ Z|FKHQWOLFK HLQH 6WXQGH +H EUlLVFK8QWHUULFKW 6R OHUQWH LFK DOOPlKOLFK +HEUlLVFK IOLHHQG ]XOHVHQHLQLJH*UXQGODJHQGHUNRPSOL]LHUWHQ*UDPPDWLNXQGGHU
6\QWD[ GLHVHU 6SUDFKH ]X YHUVWHKHQ XQG QLFKW ]X VFKZHUH KHEUlL VFKH 7H[WH LQV (QJOLVFKH ]X EHUVHW]HQ ,FK KLHOW DOOHUGLQJV QLFKW ODQJHJHQXJGXUFKXPGLHVH6SUDFKHVSUHFKHQ]XOHUQHQ ZDVLFK KHXWHVHKUEHGDXHUH 'DV ZLFKWLJVWH (UJHEQLV MHQHU HLQMlKULJHQ 8QWHUULFKWV]HLW ZDU MHGRFK HLQ DQGHUHV 2EJOHLFK LFK PLU PHLQHQ -XJHQGWUDXP NDE EDOLVWLVFKH 7H[WH LQV (QJOLVFKH ]X EHUVHW]HQ QLH HUIOOHQ NRQQWH HUZDUELFKPLUGXUFKGHQ8QWHUULFKWHLQVROLGHV*UXQGODJHQZLVVHQ LQ GHU KHEUlLVFKHQ 6SUDFKH ZDV PLU EHLP (UVFKOLHHQ JHZLVVHU *UXQGODJHQGHU.DEEDODVHKU]XJXWHJHNRPPHQLVW 'LH*HPDWULD ]XP %HLVSLHO ZDU IU PLFK QLH HLQ 3UREOHPZDV LFK DXVVFKOLHOLFK GHU OLQJXLVWLVFKHQ 6FKXOXQJ GXUFK PHLQHQ +HEUlLVFK/HKUHU ]X YHUGDQNHQ KDEH XQG GDV JOHLFKH JLOW DXFK IU DQGHUH%HUHLFKHGHUVRJHQDQQWHQSUDNWLVFKHQ.DEEDOD 'DPLW P|FKWH LFK NHLQHVZHJV MHGHP GHU VLFK IU GLH .DEEDOD LQWHUHVVLHUW QDKHOHJHQ ]XQlFKVW HLQ -DKU ODQJ KHEUlLVFKH *UDP PDWLN XQG /HVHEXQJHQ ]X EHWUHLEHQ ZHQQ HV LKP GDUXP JHKW HLQLJH MHQHU NDEEDOLVWLVFKHQ 0HWKRGHQ ]X YHUVWHKHQ GLH GHQ LQ GHQ 1DPHQ XQG 6\PEROHQ GHV $OWHQ 7HVWDPHQWV YHUERUJHQHQ 6LQQ HUKHOOHQ RGHU ZHQQ HU VLFK IU MHQHQ =ZHLJ GHU .DEEDOD LQWHUHV VLHUW GHU DOV 7KHXUJLH EH]HLFKQHW ZLUG ZHLO HU 7DOLVPDQH XQG $PXOHWWHKHUVWHOOHQP|FKWH'LHVLVWNHLQHVZHJVQRWZHQGLJ 'HQQRFK NDQQ HV ]ZHLIHOORV YRQ JURHP 9RUWHLO VHLQ VLFK HLQ ZHQLJ PLW GHP KHEUlLVFKHQ $OSKDEHW ]X EHVFKlIWLJHQ $XFK HLQ ZHQLJ (UIDKUXQJ LP =HLFKQHQ GLHVHU %XFKVWDEHQ NDQQ QLFKW VFKDGHQGDVLHMDJOHLFK]HLWLJPDJLVFKH6\PEROHVLQG(EHQVRLVWHV ]X HPSIHKOHQ VLFK PLW JHZLVVHQ JUXQGOHJHQGHQ :RUWHQ GHU KHEUlLVFKHQ 6SUDFKH YHUWUDXW ]X PDFKHQ GLH PLW GHQ 6HSKLURWK DXI GHP /HEHQVEDXP LQ 9HUELQGXQJ VWHKHQ $OO GLHV PDFKW HLQH JURH =DKO YRQ )DNWHQ YHUVWlQGOLFK GLH VHOEVW DQVRQVWHQ VHKU IHLQVLQQLJH $XWRUHQ XQG 6WXGHQWHQ GHU .DEEDOD KlXILJ EHUVHKHQ ZHLOVLHJODXEHQVLHVHLHQY|OOLJXQEHGHXWHQG
(LQIDFKH*HPDWULD
(LQ SDDU HLQIDFKH %HLVSLHOH ZHUGHQ VFKQHOO ]HLJHQ ZHOFKHU $UW GLH YHUERUJHQHQ%HGHXWXQJHQVLQGXPGLHHVGHQ.DEEDOLVWHQLQLKUHP VFKHLQEDU ZLOONUOLFKHQ 8PJDQJ PLW :|UWHUQ %XFKVWDEHQ XQG =DKOHQJHKW 1HKPHQZLUEHLVSLHOZHLVHGDVKHEUlLVFKH:RUW$FKDG(VEH GHXWHW©HLQVªRGHU©(LQKHLWª(VZLUGEXFKVWDELHUW
'HU QXPHULVFKH :HUW GLHVHV :RUWHV RGHU VHLQH *HPDWULD LVW VRPLW 1XQ JLEW HV QRFK HLQ DQGHUHV KHEUlLVFKHV :RUWDKDYDK ©/LHEHªGDVZLHIROJWEXFKVWDELHUWZLUG
'HU QXPHULVFKH :HUW GLHVHV :RUWHV LVW HEHQIDOOV 'D GHU QXPH ULVFKH :HUWGHU EHLGHQ :|UWHU IU /LHEH XQG(LQKHLWGHUJOHLFKHLVW QLPPWPDQDQGD]ZLVFKHQEHLGHQHLQH9HUELQGXQJEHVWHKWGD GDV HLQH ]XP DQGHUHQ IKUW XQG GDV DQGHUH HU]HXJW ,FK PXLQ GLHVHP =XVDPPHQKDQJ LPPHU DQ GLH 'HILQLWLRQ GHU /LHEH RGHU 1lFKVWHQOLHEHGHV+HLOLJHQ3DXOXVGHQNHQ ©:HQQ LFKLQ GHQ 6SUDFKHQ GHU 0HQVFKHQXQG(QJHOUHGHWHKlWWHDEHU GLH/LHEHQLFKWZlUHLFKGU|KQHQGHV(U]RGHUHLQHOlUPHQGH3DXNH 'LH/LHEHLVW ODQJPWLJGLH/LHEHLVWJWLJ6LHHUHLIHUWVLFKQLFKWVLH SUDKOWQLFKWVLHEOlKWVLFKQLFKWDXI 6LH KDQGHOW QLFKW XQJHK|ULJ VXFKW QLFKW LKUHQ 9RUWHLO OlW VLFK QLFKW ]XP=RUQUHL]HQWUlJWGDV%|VHQLFKWQDFK 6LHIUHXWVLFKQLFKWEHUGDV8QUHFKW VRQGHUQIUHXWVLFKDQGHU:DKUKHLW 6LHHUWUlJWDOOHVJODXEWDOOHVKRIIWDOOHVKlOWDOOHPVWDQG 'LH/LHEHK|UW QLHPDOVDXI3URSKHWLVFKHV5HGHQKDWHLQ(QGH=XQJHQ UHGHQYHUVWXPPW (UNHQQWQLVYHUJHKW 'HQQ6WFNZHUNLVWXQVHU(UNHQQHQ6WFNZHUNXQVHU SURSKHWLVFKHV 5HGHQZHQQDEHUGDV9ROOHQGHWHNRPPWYHUJHKWDOOHV6WFNZHUN
)UMHW]WEOHLEHQ*ODXEH+RIIQXQJ/LHEHGLHVHGUHLGRFKDPJU|WHQ XQWHULKQHQLVWGLH/LHEHª
:HQQ ZLU GHQ QXPHULVFKHQ :HUW GHU /LHEH XQG GHQ GHU (LQKHLW DGGLHUHQ VLH DOVR VR]XVDJHQ YHUHLQLJHQ HUKDOWHQ ZLU DOV 6XPPH 'LHV LVW DXFK GHU QXPHULVFKH :HUW GHV 7HWUDJUDPPDWRQV GHV YLHUEXFKVWDELJHQ*RWWHVQDPHQV
VFKODJHQ XQG VLFK JOHLFK]HLWLJ YHUJHZLVVHUQ ZHOFKH DQGHUHQ :|UWHU XQG 1DPHQ PLW GHU EHWUHIIHQGHQ =DKO LQ 9HUELQGXQJ JHEUDFKW ZHUGHQ -H HUIDKUHQHU PDQ LQ GHU +DQGKDEXQJ GHU .DEEDOD GHU =DKOHQ XQG %HGHXWXQJHQ ZLUG XP VR QW]OLFKHU ZLUG GDV HUZlKQWH %XFK (VLVWHLQUHJHOUHFKWHV/H[LNRQNDEEDOLVWLVFKHU=DKOHQGDVLQ7KH
1RWDULNRQ
(V JLEW QRFK HLQH Y|OOLJ DQGHUH NDEEDOLVWLVFKH 0HWKRGH GHU 6LQQ HUPLWWOXQJ GLH 1RWDULNRQ JHQDQQW ZLUG 1RWDULNRQ LVW HLQ KHEUlL VFKHV :RUW GDV .XU]VFKULIW EHGHXWHW 'LHVH 0HWKRGH EHVWHKW GDULQ GD PDQ DXV GHQ $QIDQJVEXFKVWDEHQ EHVWLPPWHU DXVJH ZlKOWHU:|UWHUVRJHQDQQWH1HRORJLVPHQ©1HXZ|UWHUª ELOGHW ,Q GHU DOFKLPLVWLVFKHQ /LWHUDWXU JLEW HV HLQ EHUKPWHV %HLVSLHO IUGLH$QZHQGXQJGHV1RWDULNRQVGDV:RUW9LWULROVFKZHIHOVDXUHV 6DO] -HGHU%XFKVWDEHGLHVHV:RUWHVZLUG]XP$QIDQJVEXFKVWDEHQ HLQHVQHXHQ:RUWHVVRGDHLQ6DW]DXVVLHEHQ:|UWHUQHQWVWHKW
'DV1RWDULNRQYRQ7HQDFK
(LQ DQGHUHV %HLVSLHO IU GLH $QZHQGXQJ GLHVHU 0HWKRGH EHQXW]HQ GLH -XGHQ QRFK KHXWH WDJWlJOLFK GLH PHLVWHQ DOOHUGLQJV YHUPXW OLFK RKQH ]X ZLVVHQ GD HV VLFK GDEHL XP HLQH WUDGLWLRQHOOH 0HWKRGH NDEEDOLVWLVFKHU ([HJHVH KDQGHOW ,P +HEUlLVFKHQ ZLUG GLH%LEHO GDV $OWH7HVWDPHQW 7HQDFKJHQDQQWPDQP|JH LPPHU GDUDQ GHQNHQ GD GDV KHEUlLVFKH ©FKª ZLH EHL ©/RFKª JHVSURFKHQ ZLUG 'DV :RUW 7HQDFKZLUG EXFKVWDELHUW 7DX 1XQXQG &DSK 'LHV LVW HLQ HFKWHV 1RWDULNRQ ZHOFKHV DXI GUHL KHEUlLVFKHQ :|UWHUQEDVLHUW 7RUDK
1 YHHLP . VRRYLP
'HU JHVDPWH 6DW] GHU VR]XVDJHQ HLQH (UZHLWHUXQJ GHV :RUWHV 9LWULRO LVW EHGHXWHW ©%HVXFKH RGHU HUIRUVFKH GDV ,QQHUH RGHU GLH 7LHIHQ GHU(UGHXQGILQGHXQGUHNWLIL]LHUHGHVWLOOLHUH GHQJHKHLPHQ 6WHLQª (LQHU GHU WUDGLWLRQHOOHQ 1DPHQ GHU .DEEDOD LVW&KRNPDK 1H VWRUDK GLH *HKHLPH :HLVKHLW 'LH .DEEDOD JLOW DOV GDV HVRWHULVFKH :LVVHQ GDV VHLW XQYRUGHQNOLFKHU =HLW EHUOLHIHUW ZXUGH :HQQ PDQ GLH HUVWHQ %XFKVWDEHQ GLHVHU EHLGHQ :|UWHU&KHWK XQG 1XQ PLWHLQDQGHU NRPELQLHUW HQWVWHKW HLQ :RUW GDVFKHQ JHVSURFKHQ ZLUG 6FKOlJW PDQ QXQ LP KHEUlLVFKHQ /H[LNRQ QDFK VR ILQGHW PDQ GRUW WDWVlFKOLFK HLQ VROFKHV :RUW ZHOFKHV *QDGH EHGHXWHW 'DUDXV VFKO|VVHQ GLH .DEEDOLVWHQ ZHQQ LUJHQGZR LQ GHU +HLOLJHQ 6FKULIW HUZlKQW ZHUGH GD *RWW HLQHP EHVWLPPWHQ 0HQVFKHQ VHLQH *QDGH JHZlKUWH VR YHUEHUJH VLFK GDKLQWHU GD GHP %H WUHIIHQGHQ JHKHLPHV HVRWHULVFKHV :LVVHQ EHU GDV J|WWOLFKH /HEHQ XQG GHQ J|WWOLFKHQ 3ODQ EHUPLWWHOW ZRUGHQ VHL 'DV ZDU QDFK $QVLFKWGHU.DEEDOLVWHQ 6HLQH*QDGH
GLHHUVWHQ%FKHUGHU%LEHOGLHVRJHQDQQWHQIQI %FKHUGHV0RVHV
GLH %FKHU GHU 3URSKHWHQ YHUVFKLHGHQH 7H[WH GDU XQWHUGDV%XFK,VDLDV-HUHPLDVXVZ GLH+HLOLJHQ6FKULIWHQGLHJHPLV FKWH*UXSSHYRQ 6FKULIWHQ]XGHQHQGLH3VDOPHQGLH6SULFKZ|UWHU (FFOHVLDVWHVXQGDQGHUH]lKOHQ
'LH HUVWHQ %XFKVWDEHQ GLHVHU GUHL :|UWHU HUJHEHQ GDV :RUW 7HQDFK 'DV :RUW LVW DOVR HLQH $ENU]XQJ GLH IU GHQ ,QKDOW GHV JHVDPWHQ $OWHQ 7HVWDPHQWVVWHKW
'LH*HPDWULDYRQ©$PHQª
(LQ DQGHUHV :RUW GDV VHKU KlXILJ VRZRKO YRQ -XGHQ ZLH DXFK YRQ &KULVWHQ DOOHU .RQIHVVLRQHQ JHEUDXFKW ZLUG RKQH GD VLH VLFK EHU VHLQHQ 6LQQ VRQGHUOLFK LP NODUHQ ZlUHQ LVW GDV :RUW ©$PHQª 8UVSUXQJ XQG 6LQQ GLHVHV :RUWHV OLHJHQ LP 'XQNHOQ (V ZLUG JHZ|KQOLFK DP 6FKOX YRQ *HEHWHQ JHVSURFKHQ XQG EHGHXWHW GRUW QDFK DOOJHPHLQHU hEHU]HXJXQJ ©6R VHL HVª RGHU ©6R P|JH HV VHLQª 1DFK $QVLFKW GHU .DEEDOLVWHQ MHGRFK LVW GLHVHV :RUW HLQH EHVFKZ|UHQGH %LWWH DQ GLH *RWWKHLW 'LH %XFKVWDEHQ GHV :RUWHV $OHSK 0HPXQG 1XQ VLQG JOHLFK]HLWLJ GLH $QIDQJVEXFKVWDEHQ GUHLHU KHEUlLVFKHU :|UWHU GLH PLW *RWW LQ 9HUELQGXQJ JHEUDFKW ZHUGHQ
$OHSK 0HP 1XQ
GHUHUVWH%XFKVWDEHYRQ$GRQDL GHUHUVWH%XFKVWDEHYRQ0HOHNK GHUHUVWH%XFKVWDEHYRQ1D DPRQ
PHLQ+HUU .|QLJ *HWUHXHU
'LH %HGHXWXQJ YRQ ©$PHQª ZlUH GHPQDFK ©+HUU JHWUHXHU .| QLJª 6RPLW LVW GHU $EVFKOX GHV *HEHWV JOHLFK]HLWLJ HLQH ,QYR NDWLRQ*RWWHV :LUN| QQHQQRFKHLQHQ6FKULWWZHLWHUJHKHQXQGGLH*HPDWULD YRQ©$PHQªHUPLWWHOQ
©5XDFK(ORKLPª
,P 6HSKHU 6HSKLURWK VLQG QRFK HLQLJH DQGHUH KHEUlLVFKH :|UWHU PLW GHP JOHLFKHQ QXPHULVFKHQ :HUW ]X ILQGHQ XQG DXI LUJHQGHLQH :HLVH PX ]ZLVFKHQ LKQHQ HLQH LQQLJH 9HUELQGXQJ EHVWHKHQ (KORQ $OHSK
6FKOLHOLFK JLEW HV QRFK GDV %HLVSLHO 5XDFK (ORKLP 'LHV VLQG ]ZHL KHEUlLVFKH :|UWHU GLH LQ GHQ $QIDQJVYHUVHQ GHU *HQHVLV YRUNRP PHQ ZR YRP *HLVW *RWWHV GLH 5HGHLVWGHUEHUGHQ:DVVHUQGHU 6FK|SIXQJ VFKZHEW (LQH Z|UWOLFKHUH hEHUVHW]XQJ ZUGH EULJHQV ODXWHQ ©'HU *HLVW GHU *|WWHUª 'LH *HPDWULD GLHVHU EHLGHQ :|UWHU HUJLEWGLH6XPPHZLHGLHIROJHQGH%HUHFKQXQJ]HLJW
%HLGH (UJHEQLVVH DGGLHUW HUJHEHQ 'XUFK :HJODVVHQ GHU EHLGHQ 1XOOHQ N|QQWH PDQ GLHVH =DKO DXI ]XUFNIKUHQ XQG LVW GHU 3IDG YRQ *LPHO GHP .DPHO GHU LP 7DURW GHU +RKHSULHVWHULQ ]XJHRUGQHW ZLUG ZHOFKH GHQ 7LWHO GHU 3ULHVWHULQ GHV 6LOEHUVWHUQV WUlJW GHU 3IDGGHUYRQ.HWKHLREHQ]X7LSKDUHWKXQWHQIKUW 'HU %XFKVWDEH6KLQ HLQ %XFKVWDEH PLW GUHL =LQNHQ JDOW DOV GDV bTXLYDOHQW GLHVHU EHLGHQ :|UWHU XQG ]ZDU QLFKW QXU ZHJHQ GHU ,GHQWLWlW LKUHU QXPHULVFKHQ :HUWH ZDV DOOHLQ VFKRQ JHQJHQ ZUGH VRQGHUQ ZHLO6KLQ LP6HSKHU -HW]DK GHP (OHPHQW )HXHU ]XJHRUGQHW ZXUGH $Q YLHOHQ 6WHOOHQ GHV $OWHQ 7HVWDPHQWV ZLUG GDV )HXHU DOV $WWULEXW *RWWHV DQJHVHKHQ DOV HLQ +LQZHLV DXI 6HLQH *HJHQZDUW 6SlWHU ZXUGH DXFK /LFKW ]X HLQHP VROFKHQ $WWULEXW ZREHL PDQ DQQDKP GD ]ZLVFKHQ /LFKW XQG )HXHU HLQH ZHFK VHOVHLWLJH %H]LHKXQJ EHVWQGH 'HVKDOE ZXUGH EHL HLQHU GHU DOWHQ PDJLVFKHQ hEXQJHQ GLH GDUDXI ]LHOWH GXUFK 9LVXDOLVLHUXQJ GDV +HUDEVWHLJHQ GHV J|WWOLFKHQ *HLVWHV ]X EHZLUNHQ HLQ NRQNUHWHV 6\PERO EHQXW]W GHU JURH IHXULJH %XFKVWDEH6KLQ GHU EHU GHP .RSIYLVXDOLVLHUWZXUGH,QGLHVHP=XVDPPHQKDQJPXLFKVWHWV DQ GHQ$EVFKOXYRQHLQHUYRQ&URZOH\VHUVWHQ6FKULIWHQGHQNHQ ©8QWHU GHQ 6WHUQHQ ZHUGH LFK VFKUHLWHQ PHLQH %UGHU XQG YRQ MHQHP UHLQLJHQGHQ 7DX WULQNHQ LFK ZHUGH ]XUFNNHKUHQ PHLQH %UGHU ZHQQ LFK *RWW YRQ $QJHVLFKW ]X $QJHVLFKW JHVFKDXW KDEH XQG ZHQQ LFK LQ MHQHQHZLJHQ$XJHQGDV*HKHLPQLVJHOHVHQKDEHGDVHXFKIUHLPDFKHQ ZLUG
6RZHUGHQZLUGHU:HOWLKUH-XJHQGZLHGHUVFKHQNHQGHQQZLUZHUGHQ EHUGHU*URHQ7LHIHVFKZHEHQZLHGLH =XQJHQGHUGUHLIDFKHQ)ODPPH +HLOGHQ*|WWHUQGHU+DLQHYRQ(OHXVLVª
1DFK HLQHU IUKHQ hEHUOLHIHUXQJ VROO *RWW DOV HU GLH :RUWH )LDW /X[ ©(V ZHUGH /LFKWª VSUDFK QLFKW QXU GLH SK\VLVFKH (UVFKHL QXQJ GHV /LFKWV XQG DOOHV ZDV GDPLW ]XVDPPHQKlQJW JHPHLQW KDEHQ VRQGHUQ VR EHULFKWHW GLH DOWH :HLVKHLW GDV $XIWDXFKHQ GHV J|WWOLFKHQ *HKHLPQLVVHV 'HQQ GDV KHEUlLVFKH :RUW IU /LFKW LVW $RXL $OHSK 9DY 5HVK XQG GDV :RUW IU *HKHLPQLV ODXWHW 5D] 5HVK =D\LQ 'HPQDFK LVW/LFKW LQ DOO VHLQHQ %HGHXWXQJHQGDVJ|WWOLFKH0\VWHULXP 'HU .DEEDLLVW ZLUIW EHL VHLQHU PDJLVFKHQ RGHU WKHXUJLVFKHQ $UEHLWNXU]H%OLFNHDXIHLQHQ6WUDKOGHVXQHQGOLFKHQ/LFKWV 6RKDU EHGHXWHW ©GDV 6WUDKOHQª RGHU ©GHU *ODQ]ª ZLHGHU HLQ +LQZHLV DXI GDV /LFKW 'DV 6WUDKOHQ GHV J|WWOLFKHQ /LFKWV ZLUG LQ GHQ *HKHLPQLVVHQ GLHVHV NDEEDOLVWLVFKHQ 7H[WHV ZLGHUJHVSLHJHOW 'RFK ZHQQ GLHVH *HKHLPQLVVH LQ HLQH UHLQ EXFKVWlEOLFKH WKHR ORJLVFKH,QWHUSUHWDWLRQJHNOHLGHWZHUGHQZLUGGHU*ODQ]YHUGXQNHOW XQG LVW QLFKW PHKU ]X HUNHQQHQ 'LH EXFKVWlEOLFKH SURVDLVFKH %HGHXWXQJ ZXUGH YRQ GHQ 0\VWLNHUQ LPPHU DOV GXQNHO DQJHVHKHQ (VRWHULVFKH ,QWHUSUHWDWLRQHQ KLQJHJHQ EULQJHQ 5D] RGHU GDV *HKHLPQLV ]XP 9RUVFKHLQ VRZLH DXFK GHQ 6RKDURGHU GDV VWUDKOHQGH /LFKW ZHOFKHV QDFK $QVLFKW YLHOHU GXUFK MHGH =HLOH GHU +HLOLJHQ6FKULIWHQVFKHLQW $LQ 6RSK $RXULVW GDV 8QHQGOLFKH /LFKW DXV GHP GLH 6HSKLURWK GHV NDEEDOLVWLVFKHQ /HEHQVEDXPV KHUYRUJHJDQJHQ VLQG 6RPLW LVW GDV /LFKW DXFK LQ YLHOHUOHL +LQVLFKW GDV JURH 0\VWHULXP RKQH (QGH 3DUDGLHV
0LW GHP KHEUlLVFKHQ :RUWIU3DUDGLHVSDUGHVZDVDXFKHLQIDFK *DUWHQ EHGHXWHW KDW PDQ YLHOH ©6\PEROVSLHOHª JHVSLHOW(LQLJH GHU IUKHQ .DEEDOLVWHQ KDEHQ GLH %XFKVWDEHQ GHV KHEUlLVFKHQ :RUWHV3HK 5HVK 'DOHWK 6DPHFKDXIGLHYLHU )OVVH EH]RJHQGLH QDFK GHU *HQHVLVDXV GHP*DUWHQ(GHQIO|VVHQ6RHQWKLHOWHLQHV GHUIUKHQ5LWXDOHGHV*ROGHQ'DZQGLHIROJHQGHQ%H]JH
©'HU)OX 1DKHU >ZDV©QLHYHUVDJHQGHV:DVVHU EHGHXWHW@IOLHWYRP EHUZHOWOLFKHQ(GHQDXVXQGLVWLQ 'DDWKLQYLHU4XHOOHQXQWHUWHLOW 3LVRQ)HXHU IOLHHQGQDFK*HEXUDKZRGDV*ROGLVW*LKRQ :DVVHU GDV:DVVHUGHU*QDGHIOLHHQGQDFK &KHVHG+LGGLNHO /XIW IOLHHQGQDFK7LSKDUHWK3KUDWKGHU(XSKUDW (UGH IOLHHQGQDFK0DONXWK
'HU YRQ (GHQ DXVJHKHQGH )OX LVW GHU )OX GHU $SRNDO\SVHGDV:DVVHU GHV/HEHQVGDVNULVWDOONODUYRP7KURQDXVIOLHWXQGDQEHLGHQ6HLWHQ GHV/HEHQVEDXPHVHQWODQJGHUDOOH$UWHQYRQ)UFKWHQWUlJWª
1XQ YHUJOHLFKH PDQ GLHVH RNNXOWHQ /HKUHQ EH]JOLFK GHU (OH PHQWHPLWHLQHUYLHOIUKHUHQNDEEDOLVWLVFKHQ,QWHUSUHWDWLRQLQGHU GLHVH %XFKVWDEHQXQGGLH)OVVH PLW%HGHXWXQJVHEHQHQYHUJOLFKHQ ZHUGHQ 3HKIU3LVRQ EXFKVWlEOLFKH%HGHXWXQJ3HVKDW 5HVKIU5HPH] DOOHJRULVFKH%HGHXWXQJXQGGHU)OX *LKRQ 'DOHWKIU'HUDVKD WDOPXGLVFKHH[DNWH ,QWHUSUHWDWLRQXQGIU +LGGLNHO 6DPHFKIU6RG P\VWLVFKHUXQGLQQHUVWHU6LQQXQGIU 3KUDWK
6RPLW IKUW GLH :HLVKHLW GLH PDQ GXUFK (UVFKOLHHQ YLHOHU 6LQQ HEHQHQ XQG GXUFK ,QWHUSUHWDWLRQ GHUVHOEHQ HUODQJW ]XP 3DUDGLHV ]XU(UOHXFKWXQJ 1DPHQ*RWWHV
,Q )UDQFLV %DUUHWWV %XFK7KH 0DJXV JLEW HV LP .DSLWHO EHU ]HUH PRQLHOOH 0DJLH HLQH 6HLWH GLH LQ XQVHUHP =XVDPPHQKDQJ YRQ %HGHXWXQJ LVW 'LHVHV %XFK GDV HUVWPDOV XP YHU|IIHQWOLFKW ZXUGH HQWKlOW HLQHUVHLWV HLQ 'XUFKHLQDQGHU YRQ DEHUJOlXELVFKHP 8QVLQQDQGHUHUVHLWVDEHUDXFKHLQLJHJUXQGOHJHQGH,QIRUPDWLRQHQ EHU 0DJLH 0LWWOHUZHLOH JLEW HV 1HXDXVJDEHQ GLHVHV %XFKHV XQG GHUHUQVWKDIWDQGHU0DJLH,QWHUHVVLHUWHNDQQGXUFKDXVGDYRQ ,5HJDUGLH'DVPDJLVFKH6\VWHPGHV*ROGHQ'DZQ %G,6I )UDQFLV%DUUHWW7KH0DJXV7KRUVRQV
SURILWLHUHQVLFKPLWGLHVHP:HUN]XEHVFKlIWLJHQYRUDXVJHVHW]WHU OHUQW GHQ :HL]HQ YRQ GHU 6SUHX ]X XQWHUVFKHLGHQ GHQQ OHW]WHUH LVW LPhEHUPDGDULQ]XILQGHQ'LHHUZlKQWH6HLWHZLUIW/LFKWDXIYLHOH PHUNZUGLJH ©IDVWªKHEUlLVFKH 1DPHQ GLH LQ HLQLJHQ GHU DOWHQ ,QYRNDWLRQHQDXIWDXFKHQ 'DV +HEUlLVFK LQ GLHVHP %XFK LVW HQWVHW]OLFK ,FK YHUPXWH GD YLHOH )HKOHU XQDEVLFKWOLFK GXUFK .RSLHUHU DOWHU 7H[WH HQWVWDQGHQ VLQG GLH GHV +HEUlLVFKHQ QLFKW PlFKWLJ ZDUHQ 1DFKGHP GHU XUVSUQJOLFKH 7H[W VR GXUFK HLQ 'XW]HQG +lQGH JHJDQJHQ XQG DQ XQ]lKOLJHQ 6WHOOHQ YHUlQGHUW XQG YHUVWPPHOW ZRUGHQ ZDU KDWWH GDV (QGSURGXNW VFKOLHOLFK QXU QRFK ZHQLJ bKQOLFKNHLW PLW GHP 2ULJLQDO VR GD GHU XUVSUQJOLFKH 6LQQ XQG =ZHFN QLFKW PHKU ]X HUNHQQHQZDU ,FK KDEH GLHVHV 3KlQRPHQ DXFK LQQHUKDOE GHV *ROGHQ 'DZQ 2UGHQV EHREDFKWHW (LQLJH GHU .RSLVWHQ PVVHQ GLH KHEUlLVFKHQ %XFKVWDEHQ RKQH MHJOLFKHV 9HUVWlQGQLV DXV 2ULJLQDOPDQXVNULSWHQ NRSLHUW KDEHQ ,KUH 8QJHQDXLJNHLWHQ XQG .RSLHUIHKOHU ZXUGHQ GDQQ ELV DXI GHQ KHXWLJHQ 7DJ VWlQGLJ ZLHGHUKROW 9LHOOHLFKW VROOWH LFK KLQ]XIJHQ GD GXUFK GLHVH )HKOHU QLFKW YLHO 6FKDGHQ HQW VWDQGHQ LVW 6LFKHU VLQG VLH HLQ +LQZHLV DXI ,JQRUDQ] :HQQ PDQ VLFK GLH +HEUlLVFK)HKOHU LQ %DUUHWWV %XFK XQG LQ HLQLJHQ DOWHQ *ULPRLUHV LQ %HLVSLHOHQ IU GLH +HUVWHOOXQJ YRQ 7DOLVPDQHQ DQVFKDXW VR ILQGHW PDQ VR HQWVHW]OLFKH 9HUXQVWDOWXQJHQ GD GLH EHWUHIIHQGHQ 7DOLVPDQH GXUFK GLHVH SUDNWLVFK EHGHXWXQJVORV ZHUGHQ (V ZlUH JHQDXVR ZLUNVDP RGHU VLQQORV VLH VWDWW PLW KHEUlLVFKHQ %XFKVWDEHQ XQG 6LJLOOHQ PLW +LHURJO\SKHQ XQG =X IDOOVOLQLHQ]XYHUVHKHQ %HLVSLHOH GLHVHU $UW ODVVHQ HV UDWVDP HUVFKHLQHQ GD HLQ JUXQG OHJHQGHV 6WXGLXP GHU KHEUlLVFKHQ 6SUDFKH LQ DOOHQ KHXWH H[L VWLHUHQGHQ +HLOLJWPHUQ GHU ,QLWLDWLRQ ]XU 3IOLFKW JHPDFKW ZLUG GDPLW VLFK EHL GHU 8QWHUZHLVXQJ LQ GHU .DEEDOD GLH JUlOLFKHQ )HKOHUGHU9HUJDQJHQKHLWQLHPHKUZLHGHUKROHQP|JHQ ©*RWW VHOEVW KDW REJOHLFK HU QXU HLQ :HVHQ LVW YHUVFKLHGHQH 1DPHQª VFKUHLEW %DUUHWW LQ GHP REHQ HUZlKQWHQ 7HLO VHLQHV %XFKHV ©'LHV LVW ]ZDU NHLQH (UNOlUXQJ IU GLH YHUVFKLHGHQDUWLJHQ :HVHQKHLWHQ RGHU *RWWKHLWHQ MHGRFK IU JHZLVVH (LJHQVFKDIWHQ GLH YRQ LKP DXVJHKHQ GXUFK GLHVH 1DPHQ JLHW HU EHU XQV XQG EHUDOOHVHLQH.UHDWXUHQYLHOH:RKOWDWHQDXVª ,QHLQLJHQGHUIROJHQGHQ%HLVSLHOH%DUUHWWVKDEHLFKPLUGLH
)UHLKHLW JHQRPPHQ GLH KHEUlLVFKHQ %XFKVWDEHQ ZHJ]XODVVHQ XQG GLH7UDQVOLWHUDWLRQHQLQV(QJOLVFKH]XNRUULJLHUHQ ©+XIO LVW HLQ ZHLWHUHU 1DPH GHU (VDX RIIHQEDUW ZXUGH HU EH ]HLFKQHW GLH XQHUJUQGOLFKH 7LHIH GHU *RWWKHLWª 'LHVHV :RUW EHGHXWHW HLQIDFK ©(Uª XQG ZLUG.HWKHU ]XJHRUGQHW©(VFK LVW HLQ 1DPH*RWWHV GHU 0RVHVRIIHQEDUWZXUGHHUEHGHXWHW)HXHU 1D VROO LQ =XVWlQGHQ GHU 9HUZLUUXQJ XQG EHL 6FKZLHULJNHLWHQ LQYR ]LHUWZHUGHQ$XHUGHPJLEWHVGHQ1DPHQ
$*/$XQG$5$5,7$
,FKKDEHEHZXWQLFKWDXV%DUUHWWV%XFK]LWLHUWZDVHUEHUGLH EHLGHQNODVVLVFKHQ:|UWHU]XVDJHQKDWGLHJHZ|KQOLFKLQHLQLJHQ
GHU lOWHUHQ PDJLVFKHQ 5LWXDOHQ YRUNRPPHQ GHQQ GLHVH YHUGLHQHQ HLQH HLQJHKHQGHUH %HWUDFKWXQJ ,P %DQQULWXDO GHV 3HQWDJUDPPV GDV PLWWOHUZHLOH LQ YLHOHQ 3XEOLNDWLRQHQ ]X ILQGHQLVWNRPPWGDV YLHUEXFKVWDELJH :RUW $*/$ YRU 'LHV LVW HLQ ZHLWHUHV JXWHV %HL VSLHO IU HLQ 1RWDULNRQ XQG HV LVW QLFKW VFKZLHULJ HV ]X DQDO\ VLHUHQ ,Q GHU +HLOLJHQ 6FKULIW JLEW HV HLQHQ DXV YLHU :|UWHUQ EH VWHKHQGHQ $XVGUXFN GHU ODXWHW ©'X ELVW PlFKWLJ LQ (ZLJNHLW2K +HUU>RGHU$GRQDL@ª,Q+HEUlLVFKODXWHWGLHVH3KUDVH$WRKJLERU O RODKPDGRQDL'LH$QIDQJVEXFKVWDEHQGLHVHUYLHU:|UWHUHUJHEHQ $*/$ (LQ DQGHUHU ULWXHOOHU 1DPH LVW QRFK YHUEUHLWHWHU DOOHUGLQJV LVW VHLQ 6LQQ QXU ZHQLJHQ ZLUNOLFK NODU DXHUGHP LVW HU GXUFK .R SLVWHQ KlXILJDXIJUlOLFKH:HLVHHQWVWHOOWZRUGHQ'HUPDJLVFKH 1DPH $5$5,7$ ILQGHW KDXSWVlFKOLFK LP +H[DJUDPPULWXDO 9HU ZHQGXQJ HU VROO LQ GHQ YLHU +LPPHOVULFKWXQJHQ YLEULHUW ZHUGHQ ZlKUHQG PDQ GLH HQWVSUHFKHQGHQ JHRPHWULVFKHQ )LJXUHQ GHU 6L JLOOHQ LQGLH/XIW ]HLFKQHW'LHVHFKV6SLW]HQXQGGDV=HQWUXPGHV +H[DJUDPPV ZHUGHQ GHQ .UlIWHQ GHU VLHEHQ 3ODQHWHQ ]XJHRUGQHW GLH PDQ GXUFK NRUUHNWH $QZHQGXQJ GLHVHU )LJXU LQYR]LHUHQ RGHU EDQQHQ NDQQ $XFK GLHVHU 1DPH LVW HLQ JXWHV %HLVSLHO IU HLQ 1RWDULNRQ XQG GLH VLHEHQ %XFKVWDEHQ GHV 1DPHQV VLQG GLH $Q IDQJVEXFKVWDEHQGHVIROJHQGHQ6DW]HV©(LQVLVW6HLQ$QIDQJ(LQVLVW 6HLQH (LQ]LJDUWLJNHLW 6HLQH 9HUlQGHUXQJ LVW (LQVª 'HU HQW VSUHFKHQGH KHEUlLVFKH 6DW] ODXWHW$FKDG OHVKLWRK DFKDG 5HVK IHFKLGDWKRK7HPXUDWKRKDFKRG 'DV :RUW $FKDGEHGHXWHW ©HLQVª ZLU KDEHQ GLHVHV :RUW EHUHLWV PHKUPDOV HUZlKQW 5HVKLWLVW GDV KHEUlLVFKH :RUW IU $QIDQJ XQG GLH (QGXQJ ©RKª EHGHXWHW ©6HLQª 5HVKEH]HLFKQHW HLQHQ .RSI RGHU HLQHQ $QIDQJ XQG LVW GLH :XU]HO GHV :RUWHV 5HVKLW6WXGHQWHQ GHU .DEEDOD ZHUGHQ VLFK GDUDQ HULQQHUQ GD GDV :RUW -HFKLGDKGHU (PDQDWLRQ .HWKHU]XJHRUGQHW ZLUG XQG GD HV LQ EH]XJ DXI GLH LQGLYLGXHOOH PHQVFKOLFKH ([LVWHQ] GHQ XQVWHUEOLFKHQ 7HLO GHV 0HQVFKHQ UHSUlVHQWLHUW 6RPLW EH]HLFKQHW GHU $XVGUXFN 5HVK -HFKLGDWRK GHQ .RSI VHLQHU ,QGLYLGXDOLWlW 7HPXUDK EHGHXWHW 3HUPXWDWLRQ 9HUlQGHUXQJ 9HUWDXVFKXQJ 8PVWHOOXQJ GLH (Q GXQJ ©RKª EHGHXWHW DXFK KLHU ©6HLQª 6R OlW VLFK GHU RELJH ]XQlFKVW NRPSOL]LHUW XQG YHUZLUUHQG NOLQJHQGH KHEUlLVFKH 6DW] DXV GHP GHU PDJLVFKH 1DPH $5$5,7$ DEJHOHLWHW ZXUGH HQW VFKOVVHOQ
(LQ VHKU LQWHUHVVDQWHV %HLVSLHO IU GLHVH$UWGHU ([HJHVHLVW LQ PHLQHP %XFK'DV PDJLVFKH 6\VWHP GHV *ROGHQ 'DZQ %G , ]X ILQGHQ(VVWDPPWZDKUVFKHLQOLFKYRQ6/0DF*UHJRU0DWKHUV ©+LHU QXQ HLQH 0HWKRGH ZLH PDQ KHEUlLVFKH :|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lIWH GDV )HXHU GHV*HLVWHVGHQQ :LGGHULVW HLQ )HXHU]HLFKHQ GDVLP 7LHUNUHLVZLUNWGLH)HXHUJRWWKHLWXQGGLH:DVVHUGHU6FK|SIXQJª
(LQ ZHVHQWOLFK OlQJHUHV XQG NRPSOL]LHUWHUHV %HLVSLHO IU GLH NDEEDOLVWLVFKH (UNOlUXQJVPHWKRGH LQ ZHOFKHP GLHVH HLQIDFKHUHQ 7HFKQLNHQ LQ XPIDQJUHLFKHUHP 0DH EHQXW]W ZHUGHQ LVW GDV IROJHQGH 2EJOHLFK LFK PLFK EHPKW KDEH GLHVH 'HPRQVWUDWLRQ VR YHUVWlQGOLFK ZLH HEHQ P|JOLFK ]X JHVWDOWHQ HUIRUGHUW HV LPPHU QRFKlXHUVWH.RQ]HQWUDWLRQVLH]XYHUVWHKHQ ,15,
:LU ZROOHQ XQV ]XQlFKVW PLW HLQHU DOWHQ $QZHQGXQJ GHU NDEED OLVWLVFKHQ 3ULQ]LSLHQ EHVFKlIWLJHQ GHU %XFKVWDEHQIROJH ,15, 1DWUOLFK KDQGHOW HV VLFK KLHU XP GLH $QIDQJVEXFKVWDEHQ MHQHV ODWHLQLVFKHQ $XVGUXFNV GHQ GLH 5|PHU EHL GHU .UHX]LJXQJ -HVX EHU GHQ.RSI GHV*HNUHX]LJWHQVFKULHEHQ©-HVXV YRQ1D]DUHWK .|QLJGHU-XGHQª=XYHUVFKLHGHQHQ=HLWHQGHU*HVFKLFKWHKDEHQ
=LWLHUWQDFK,5HJDUGLH
YHUVFKLHGHQH *UXSSHQ XQG *HOHKUWH GLHVHU %XFKVWDEHQIROJH DQGHUH %HGHXWXQJHQJHJHEHQ %HLVSLHOVZHLVH EHKDXSWHWHQ GLH $OFKLPLVWHQ GHV 0LWWHODOWHUV ,15,EHGHXWH,JQH1DWXUD5HQRYDWXU,QWHJUD ©'LHJDQ]H1DWXU ZLUGGXUFK)HXHUHUQHXHUWª (LQ ZHLWHUHV 'HXWXQJVEHLVSLHO DXV HWZD GHU JOHLFKHQ =HLW ODX WHWH,JQH1LWUXP5DGV,QYHQLWXP ©/HXFKWHQ*OLW]HUQ LVWNDXP LP)HXHU]XILQGHQª 'LH -HVXLWHQ LQWHUSUHWLHUWHQ GLH $ENU]XQJ DOV -XVWXP 1HFDUH 5HJLV,PSLXV ©(VLVWJHUHFKWHLQHQJRWWORVHQ.|QLJ]XW|WHQª - 6 0 :DUG HUZlKQW LQ VHLQHP %XFK )UHHPDVRP\ DQG WKH $QFLHQW*RGVIROJHQGHV,QWHUSUHWDWLRQVEHLVSLHO
6RPLWVLQGGLHYLHU%XFKVWDEHQGLHKHEUlLVFKHQ$QIDQJVEXFKVWDEHQ GHUYLHUDOWHQ(OHPHQWH $OV LP -DKUKXQGHUW GHU+HUPHWLF 2UGHU RIWKH *ROGHQ 'DZQ JHJUQGHW ZXUGH ZXUGHQ GLHVH %XFKVWDEHQ LQ GHQ NRPSOL]LHUWHQ 6\PEROLVPXV GHV 2UGHQV LQWHJULHUW 'LH %XFKVWDEHQIROJH ZXUGH DOV 6FKOVVHOZRUW ]X HLQHP GHU 5LWXDOH GHV 2UGHQV YHUZHQGHW GHU =HUHPRQLH GHV *UDGHV $GHSWXV 0LQRU 8P GHU ,QWHUSUHWDWLRQ IROJHQ ]X N|QQHQ GLH GHU 2UGHQ EHQXW]WH EHQ|WLJHQ ZLU QXU HLQH REHUIOlFKOLFKH .HQQWQLV GHU LP 6HSKHU IHW]LUDK DXIJHOLVWHWHQ $W WULEXWHDXHUGHPHLQ6SLHO7DURWNDUWHQVRZLHHLQLJHJUXQGOHJHQGH ,QIRUPDWLRQHQ EHUGLH*QRVLVXQGEHUGLH$VWURORJLH1DFKGHP ZLU GLH YLHU %XFKVWDEHQ LQ LKUH KHEUlLVFKHQ bTXLYDOHQWH EHUWUDJHQ KDEHQ PVVHQ ZLU LKUH GLUHNWHQ $WWULEXWH HQWVSUHFKHQG GHP 6HSKHUIHW]LUDKHUPLWWHOQ'DEHLHUJLEWVLFK
5HJDUGLH*ROGHQ'DZQ%G,,6I
'DV ©,ª DP 6FKOX ZLUG GD HV HLQH :LHGHUKROXQJ LVW ]XQlFKVW YHUQDFKOlVVLJW HV ZLUG DOOHUGLQJV VSlWHU EHL GHU GXUFK GLH $QDO\VH HUPLWWHOWHQ%HGHXWXQJEHUFNVLFKWLJW 'LHVH $XIVFKOVVHOXQJ EULQJW XQV ]ZDU QRFK QLFKW YLHO ZHLWHU GRFKGHXWHWVLFKEHUHLWVGHUYHUERUJHQH,QKDOWDQ'XUFKHOHPHQWDUH $VWURORJLH NRPPW PDQ GHP 6LQQ HLQ ZHQLJ QlKHU -XQJIUDX LVW GDV MXQJIUlXOLFKH 6WHUQ]HLFKHQ GHU 1DWXU VHOEVW 6NRUSLRQ LVW GDV =HLFKHQ GHV 7RGHV XQG GHU 7UDQVIRUPDWLRQ DXFK 6H[ VSLHOW EHL GLHVHP =HLFKHQ HLQH 5ROOH 'LH 6RQQH LVW GLH 4XHOOH GHV /LFKWHV XQG DOOHQ /HEHQV DXI GHU (UGH VLH LVW GDV =HQWUXP XQVHUHV 6RQ QHQV\VWHPV $OOH VRJHQDQQWHQ J|WWOLFKHQ $XIHUVWHKXQJHQ VWHKHQ LQ LUJHQGHLQHU %H]LHKXQJ ]XU 6RQQH ,Q IUKHUHQ =HLWHQ JODXEWHQ GLH 0HQVFKHQ GLH 6RQQH VWUEH LQ MHGHP :LQWHU ZHQQ GLH 9HJHWDWLRQ DEVWLUEW XQG GLH (UGH NDOW XQG XQIUXFKWEDU ZLUG :HQQ GDQQ LP )UKOLQJGLH6RQQHZLHGHU]XUFNNHKUHHUZDFKHGDVJUQH/HEHQ GHU(UGHZLHGHU 1XQ N|QQWHQ ZLU LP /LEHU QDFKVFKODJHQ LQ ZHOFKHP GLH PHLVWHQ JUXQGOHJHQGHQ (UNHQQWQLVVH GHV *ROGHQ 'DZQ2UGHQV DXIJH]HLFKQHW VLQG HUJlQ]W XP GLHMHQLJHQ GLH GHU $XWRU GLHVHV :HUNV $OHLVWHU &URZOH\ LP /DXIH GHU -DKUH VDPPHOWH ,Q HLQHU 6SDOWH GLHVHV %XFKHV GLH GHQ 7LWHO ©bJ\SWLVFKH *|WWHUª WUlJW ILQGHQ ZLU GLH IROJHQGHQ %HGHXWXQJHQ GLH ZLU GHQ EHUHLWV HUPLW WHOWHQ$QJDEHQKLQ]XIJHQN|QQHQ -XQJIUDX ,VLV GLH1DWXUGLH0XWWHUDOOHU'LQJH 6NRUSLRQ $SRSKLV GHU7RGGHU=HUVW|UHU 6RQQH 2VLULV YHUQLFKWHWXQGDXIHUVWDQGHQGHU lJ\SWLVFKH*RWWGHU$XIHUVWHKXQJXQGGHV YHJHWDWLYHQ/HEHQV
1XQVFKlOWVLFKDOOPlKOLFKHLQHEHGHXWXQJVYROOH,GHHQNHWWHKHUDXV 'LH (LQIDFKKHLW GHV QDWUOLFKHQ =XVWDQGHV GHU 'LQJH EHL VSLHOVZHLVH LP *DUWHQ (GHQ GHU IU GHQ )UKOLQJ GHU 0HQVFKKHLW VWHKW ZLUGGXUFKGDV(LQGULQJHQGHV:LVVHQVXP*XWXQG%|VH GXUFK *HZDKUZHUGHQ GHU 6H[XDOLWlW ]HUVW|UW 'LHV LVW DXI GLH ,QWHUYHQWLRQGHV=HUVW|UHUV$SRSKLV RGHU/X]LIHUVGHV/LFKWWUlJHUV ]XUFN]XIKUHQGHUDOOH'LQJHYHUlQGHUWH LQGHPHUDOOH'LQJH HUKHOOWH 'DKHU GHU 6QGHQIDOO VRZLH DXFK GHU 1LHGHUJDQJGHV -DKUHV'DUDXIIROJWGLH$QNXQIWGHV2VLULVGHV$XIHUVWHKXQJVJRWWHV GHUVDJWH©'LHVLVWPHLQ.|USHUGHQLFK]HUVW|UHDXIGD
HUHUQHXHUWZHUGHª(ULVWGHUV\PEROLVFKH3URWRW\SGHVYROOHQGHWHQ VRODUHQ0HQVFKHQGHULUGLVFKH(UIDKUXQJGXUFKOLWWHQKDWGHUGXUFK +HLPVXFKXQJHQ JHOlXWHUW XQG GDQQ EHWURJHQ XQG JHW|WHW ZXUGH XQGGHUGDQQZLHGHUDXIHUVWDQGXPDOOH'LQJH]XHUQHXHUQ 'LHDEVFKOLHHQGH$QDO\VHGHV6FKOVVHOZRUWHVHUJLEWGLH)RUPHO PLW GHQ ,QLWLDOHQ 7VLV $SRSKLV 2VLULV ,$2 GHU K|FKVWH *RWW GHU *QRVWLNHU 'D GLH 6RQQH /HEHQ XQG /LFKW VSHQGHW PX VLFK GLH RELJH )RUPHO DXI GDV /LFKW DOV GHQ (UO|VHU EH]LHKHQ 'HU ©2UGHQ GHU *ROGHQHQ 'lPPHUXQJª ZLGPHWH VHLQH $UEHLW GHP XUDOWHQ =LHO GHP 0HQVFKHQ GDV /LFKW ]X EULQJHQ 0LW DQGHUHQ :RUWHQ OHKUWH HU SV\FKRVSLULWXHOOH7HFKQLNHQGLH]XU,OOXPLQDWLRQ]XU(UOHXFKWXQJ IKUHQVROOWHQ,QGLHVHP=XVDPPHQKDQJVROOWHPDQLPPHUDQMHQH ZXQGHUVFK|QHQ 9HUVH EHU GDV /LFKW LP $QIDQJVNDSLWHO GHV -RKDQQHVHYDQJHOLXPVGHQNHQ ,P DOOHUHUVWHQ 5LWXDO GHV *ROGHQ 'DZQ GHP VRJHQDQQWHQ 1HRSK\WHQ5LWXDO K|UW GHU .DQGLGDW ]X VHLQHU 9HUEOIIXQJ GLH PHUNZUGLJH,QYRNDWLRQ©.KDEV$P3HKNW.RQ[RP)D[/LFKWLQ )OOHª 6LHEHGHXWHW©0|JHVWGXGHQ6HJHQGHV/LFKWHVHPSIDQJHQ XQG GHU P\VWLVFKHQ (UIDKUXQJ WHLOKDIWLJ ZHUGHQ GHV =LHOV DOO XQVHUHU$UEHLWª ©'LH (UOHXFKWXQJ GXUFK HLQHQ 6WUDKO J|WWOLFKHQ /LFKWV ZHOFKHU GLH SV\FKLVFKH 1DWXU GHV 0HQVFKHQ XPZDQGHOW PDJ *ODXEHQV VDFKH VHLQªVDJW +DQV -RQDV LQ VHLQHP DXVJH]HLFKQHWHQ %XFK7KH *QRVWLF 5HOLJLRQ©GRFK VLH NDQQ DXFK HLQH (UIDKUXQJ VHLQ 9HUQLFKWXQJ XQG 9HUJ|WWOLFKXQJ GHU 3HUVRQ YHUVFKPHO]HQ LQ GHU VSLULWXHOOHQ (NVWDVH PLWHLQDQGHU ZHOFKH GLH (UIDKUXQJ GHU XQ PLWWHOEDUHQ*HJHQZDUWGHUDNRVPLVFKHQ(VVHQ]EHLQKDOWHWª ©,P JQRVWLVFKHQ =XVDPPHQKDQJ LVW GLHVH YHUZDQGHOEDUH (UIDKUXQJ YRQ $QJHVLFKW ]X $QJHVLFKW *QRVLV LP K|FKVWHQ XQG JOHLFK]HLWLJ SDUD GR[HVWHQ6LQQGHV%HJULIIVGDHVGDV:LVVHQGHV8QZLEDUHQLVW'DV P\VWLVFKH JQRVLV WKHRX XQPLWWHOEDUHV (UVFKDXHQ GHU J|WWOLFKHQ :LUNOLFKNHLW LVWHLQ9RUJHVFKPDFNDXIGLHNRPPHQGH9ROOHQGXQJ(V LVW HLQ 'DXHUKDIWZHUGHQ GHU 7UDQV]HQGHQ] XQG REJOHLFK VLFK GHU 0HQVFK DXI GLHVHV (UHLJQLV GXUFK LQWHQVLYH $UEHLW DQ VLFK VHOEVW YRUEH UHLWHW WULWW GDV (UHLJQLV LQIROJH J|WWOLFKHQ (LQJUHLIHQV XQG J|WWOLFKHU *QDGHHLQ,QVRIHUQLVWHVHEHQVRVHKUHLQYRQ*RWWJHNDQQWZHUGHQ ZLH
5HJDUGLH*ROGHQ'DZQ%G,,6
HLQ*RWW.HQQHQ!XQGLQGLHVHU:HFKVHOVHLWLJNHLWDXIK|FKVWHU(EHQH VWHKW GLH *QRVLV! VWUHQJ JHQRPPHQ MHQVHLWV GHU %HJULIIH GHV :LV VHQVªª
'D GLHV GDV *UXQGWKHPD LVW GDV LQ DOOHQ 5LWXDOHQ XQG /HKUHQ GHU *ROGHQ'DZQZLHGHUNHKUWN|QQHQZLUHUZDUWHQHVLQGHU$QDO\VH XQG LP 6FKOVVHOZRUW GHU $GHSWXV 0LQRU=HUHPRQLH ZLH GHU]XILQGHQ XQGQDWUOLFKILQGHQZLUHVGRUWDXFK 'DV :RUW /LFKW ZLUG ]X /9; EHUVHW]W GHP ODWHLQLVFKHQ :RUW IU /LFKW 'LH $PWVWUlJHU YROOIKUHQ HLQH 5HLKH YRQ *HElUGHQ XQG *HVWHQ GLH GDV +HUDEVWHLJHQ GLHVHV /LFKWV UHSUlVHQWLHUHQ XQG GLH GHQ6\PEROLVPXVGHUYRUKHULJHQ(QWGHFNXQJHQ]XVDPPHQIDVVHQ 6R KHEW HLQ $GHSW RGHU $PWVWUlJHU VHLQHQ UHFKWHQ $UP KRFK LQ GLH /XIW EHU VLFK Zl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
+DQV-RQDV]LWLHUWQDFK,5HJDUGLH
'DQQ IROJW HLQH :LHGHUKROXQJ XP GLH 6\QWKHVH GLHVHU YLHOHQ ,GHHQ XQG *HVWHQ ]X JHZlKUOHLVWHQ $XHUGHP ZLUG GXUFK HLQH ZHLWHUH *HElUGH GDV ]ZHLWH ©,ª EHUFNVLFKWLJW GDV ]XQlFKVW LJQRULHUW ZXUGHXPGLH:LHGHUKROXQJ]XYHUPHLGHQ :lKUHQG GHU *HVWH IU GDV / VSULFKW GHU $GHSW ©'LH *HVWH GHU WUDXHUQGHQ ,VLVª 'LHV EULQJW GLH 7UDXHU GHU ,VLV XP 2VLULV ]XP $XVGUXFN DOV VLH HUIlKUW GD 2VLULV GXUFK 6HWK RGHU $SRSKLV HUVFKODJHQZRUGHQLVW :lKUHQG GHU 9*HVWH VSULFKW GHU $GHSW ©'LH *HVWH 7\SKRQV XQGGHV$SRSKLVª'LHVVLQGDQGHUH1DPHQIU6HWKGHQ%UXGHU XQG 0|UGHU GHV 2VLULV GHU GHQ .|USHU VHLQHV %UXGHUV VR YHU VWPPHOWH GD ,VLV GLH LQ GHU JDQ]HQ 6FK|SIXQJ QDFK LKP VXFKWH QXUGHQ3KDOOXVIDQG :HQQ GHU $GHSW VHLQH $UPH ]X GHQ 6HLWHQ DXVVWUHFNW VR GD VLH ]XVDPPHQ PLW GHP .|USHU HLQ .UHX] ELOGHQ VSULFKW HU ©'LH *HVWH GHVHUVFKODJHQHQ2VLULVª 'DQQ NUHX]W HU EHLGH $UPH EHU GHU %UXVW XQG IJW KLQ]X ©8QG GHVHUVWDQGHQHQ,VLV$SRSKLV2VLULV,$2ª 6R KDW VLFK QXQ GDV ZDV ]XQlFKVW QLFKWV ZHLWHU DOV GLH $ENU ]XQJ HLQHU ODWHLQLVFKHQ :RUWIROJH ZDU GLH GLH 5|PHU QDFK GHU hEHUOLHIHUXQJ DP .UHX]H &KULVWL EHU GHP .RSI GHV *HNUHX]LJWHQ DQJHEUDFKW KDEHQ VROOHQ GXUFK HLQH NDEEDOLVWLVFKH 'HXWXQJ ]X HLQHU NRPSOH[HQ )ROJH YRQ HYRNDWLYHQ ,GHHQ XQG V\PEROLVFKHQ *HVWHQ HQWZLFNHOW ZHOFKH GHQ *UXQGJHGDQNHQ LQ XQJHKHXUHP 0DH HUZHLWHUQ :HQQ PDQ PLW GHQ EHWUHIIHQGHQ ,GHHQ YHUWUDXW LVW NDQQ PDQ GLH *HVWHQ GD]X QXW]HQ MHQH ,OOXPLQDWLRQ SUDNWLVFK DQ]XVWUHEHQ DXI GLH VLH KLQZHLVHQ 'LHV LVW GHU HVVHQWLHOOH :HUW VDNUDPHQWDOHU+DQGOXQJHQ 'DV bTXLYDOHQW GHU 5RVHQNUHX]HU IU GLHVH )RUPHO LVW LQ GHU )DPD )UDWHUQLWDWLV ]X ILQGHQ HLQHP YRQ GUHL NODVVLVFKHQ 2UL JLQDOGRNXPHQWHQ GHU 5RVHQNUHX]HU ©([ 'HR 1DVFLPXU ,Q -HVX 0RULPXU 3HU 6SLULWXV VDQFWXV UHYLYLVFLPXVª ©$XV *RWW ZHUGHQ ZLU JHERUHQ ,Q &KULVWXV VWHUEHQ ZLU 'XUFK GHQ +HLOLJHQ *HLVW ZHUGHQZLUZLHGHU]XP/HEHQHUZHFNWª 'LH)DPD)UDWHUQLWDWLV LVWLQGHXWVFKHU6SUDFKHQHXHUVFKLHQHQLQGHP %XFK 'LH %UXGHUVFKDIW GHU 5RVHQNUHX]HU +J *HUKDUG :HKU 'LHGHULFKV *HOEH 5HLKH %G 0QFKHQ 'DV %XFK HQWKlOW GLH GUHL HUZlKQWHQ *UXQGODJHQWH[WH$QPGhEHUV
'RFK GDV LVW QRFK QLFKW DOOHV:HQQZLU /9; DOVU|PLVFKH =LIIHUQ YHUVWHKHQ VR HUJLEW VLFK GLH =DKO 'LHVH =DKO LVW VRPLW GDV V\PEROLVFKHbTXLYDOHQWIU/LFKW*QRVLVXQG,OOXPLQDWLRQ ,P 5LWXDO ]XU (UODQJXQJ GHV *UDGHV GHV $GHSWXV 0LQRU YHU SIOLFKWHW VLFK GHU .DQGLGDW GDQDFK ]X VWUHEHQ XQG GDIU ]X DU EHLWHQ XQG ]X EHQ GD HU GXUFK GLH (UOHXFKWXQJ HLQHV 7DJHV ©PHKU DOV PHQVFKOLFK ZHUGHQ ZLUGª 'DV 6WUHEHQ GHV $GHSWHQ QDFK 9HUHLQLJXQJ PLW GHU HLJHQHQ K|KHUHQ 6HHOH RGHU PLW GHP HLJHQHQK|KHUHQ6HOEVW ZHOFKHVZLHGHUXPGXUFKGDVKHEUlLVFKH :RUW $GRQDL V\PEROLVLHUW ZLUG LVW HLQH =XVDPPHQIDVVXQJ GHU JHVDPWHQ NDEEDOLVWLVFKHQ 3KLORVRSKLH $OOH REHQ EHVFKULHEHQHQ ,GHHQ VLQG VRPLW LQ GHP :RUW$GRQDL ]XVDPPHQJHIDW ZHOFKHV Z|UWOLFK EHUVHW]W ©0HLQ +HUUª EHGHXWHW 'LH KHEUlLVFKHQ %XFKVWDEHQGLHVHV:RUWHVVLQG
'LHVH 6XPPH LVW DXFK GHU QXPHULVFKH :HUW YRQ /9; /LFKW 1DFK GHU NDEEDOLVWLVFKHQ %HWUDFKWXQJVZHLVH PX DOVR HLQH 9HUELQGXQJ ]ZLVFKHQ $GRQDLXQG GHP /LFKW EHVWHKHQ ZLU HUNHQQHQ GD VLH LGHQWLVFKVLQG 'LH6\PEROLNGHV+HU]HQVXQGGHU6FKODQJH
$OV$OHLVWHU&URZOH\QDFKHLQHP-DKU]HKQWKDUWHUPDJLVFKHU$UEHLW XQG VSLULWXHOOHU 'LV]LSOLQ LQ -DKUH PLW HLQLJHQ VHLQHU EHGHXWXQJVYROOVWHQ ,OOXPLQDWLRQHQ EHORKQW ZRUGHQ ZDU HPSILQJ HU GLH,QVSLUDWLRQIU HLQ%XFKGDV HU/LEHU/;9QDQQWHZDVZLH ZLU EHUHLWV ZLVVHQ GLH U|PLVFKH 6FKUHLEZHLVH IU LVW 'HU 8QWHUWLWHO GHV %XFKHV ODXWHWH ª7KH %RRN RI WKH +HDUW JLUW ZLWK D 6HUSHQWª ©'DV %XFK GHV YRQ GHU 6FKODQJH XPJUWHWHQ +HU]HQVª 'LHVHU $XVGUXFN VWDPPW DXV GHP OHW]WHQ 7HLO HLQHV DOWHQ 5LWXDOV PLW GHP 7LWHO ©'DV 5LWXDO GHV 8QJHERUHQHQª ©7KH %RUQOHVV 5L WXDOª GDV LQ HLQHU ZLVVHQVFKDIWOLFKHQ $EKDQGOXQJ EHU JULH FKLVFKlJ\SWLVFKH 0DJLH JHIXQGHQ ZXUGH 'HU OHW]WH $EVFKQLWW GLHVHV5LWXDOVODXWHW
©,FKELQ(U'HU8QJHERUHQHRGHUHZLJH *HLVW GHUPLWGHQ)HQVHKHQNDQQ6WDUNXQGGDV8QVWHUEOLFKH)HXHU ,FKELQ(UGLH:DKUKHLW ,FKELQ(UGHUKDWDXIGDGDV%|VHLQGHU:HOWZLUNW ,FKELQ(UGHUEOLW]WXQGGRQQHUW ,FK ELQ(UYRQGHPGLH)OOHGHV/HEHQVDXI(UGHQVWDPPW ,FKELQ(UGHVVHQ0XQGDOO]HLW)HXHUVSHLW ,FKELQ(UGLH*QDGHGHU:HOW 'DVYRQGHU6FKODQJHXPJUWHWH+HL] LVWPHLQ1DPH!!
&URZOH\ EHQXW]WH GHQ LP RELJHQ =LWDW NXUVLY JHVHW]WHQ $XVGUXFN DOV7LWHOIUVHLQ/LEHU/;9LQGHPHU=HXJQLVIU$GRQDLDEOHJWH :DVEHGHXWHQGLH6\PEROH+HU]XQG6FKODQJH" 'DV +HU] LVW HLQ +LQZHLV DXI GDV HPRWLRQDOH /HEHQ DXI GHQ LQQHUVWHQ.HUQGHV0HQVFKHQDXIGDV©+HU] GHU'LQJHª8QGYRQ GHQ YLHOHQ 1DPHQ GLH &KULVWXV JHJHEHQ ZXUGHQ ODXWHW HLQHU ©+HLOLJHV +HU]ª HU UHSUlVHQWLHUW GDV /HLGHQ XQG 2SIHU &KULVWL XQG VHLQHHUO|VHQGH/LHEH]XU0HQVFKKHLW 'LH 6FKODQJH LVW HLQ QRFK lOWHUHV XQG WLHIHUHV 6\PERO 6LH UH SUlVHQWLHUWQLFKWQXUGHQ0LEUDXFKGHUVH[XHOOHQ.UDIWGHUGHP 6QGHQIDOO XQG GHU 9HUWUHLEXQJ DXV GHP *DUWHQ (GHQ YRUDXVJLQJ VRQGHUQ DXFK GLH XPJHZDQGHOWH XQG VXEOLPLHUWH /LELGR 'LHVH LVW DXFK DOV .XQGDOLQL EHNDQQW HLQH .UDIW GLHPDQGXUFK7UDLQLQJ GD]X EULQJHQ NDQQ DXV GHP GXQNOHQ %HFNHQUDXP DQ GHU :LUEHO VlXOH HQWODQJ DXI]XVWHLJHQ XQG VFKOLHOLFK GLH JROGHQH $XUHROH XP GHQ.RSIGHV+HLOLJHQRGHUGHVYROONRPPHQHUOHXFKWHWHQ$GHSWHQ]X ELOGHQ
©,FKELQGDV+HL]XQGGLH6FKODQJHXPZLQGHW GHQXQVLFKWEDUHQ.HLQGHV*HPWV 6WHLJHPSRURPHLQH6FKODQJH-HW]WLVWGLH6WXQGH GHUYHUKOOWHQXQGKHLOLJHQXQDXVVSUHFKOLFKHQ%OXPH 6WHLJHPSRURPHLQH6FKODQJH]XU3UDFKWGHU%OWH DXIGHP/HLFKQDPGHV2VLULVGHULP*UDEHVFKZLPPW 2+HU]PHLQHU0XWWHUPHLQHU6FKZHVWHUPHLQHLJHQHV GHP1LODXVJHOLHIHUWGHP6FKUHFNHQ7\SKRQV $FK'RFKGLH*ORULHUDVHQGHQ6WXUPV XPJLEWGLFKXQGXPKOOWGLFKLP5DXVFKGHU)RUP 6HLVWLOORPHLQH6HHOH'DGHU%DQQVLFKO|VH
GDGLH6WlEHVLFKKHEHQXQGGLHbRQHQZHFKVHOQ 6LHKH,QPHLQHU6FK|QKHLWZLHIU|KOLFKGXELVW R6FKODQJHGLHGXGLH.URQHPHLQHV+HU]HQVOLHENRVW 6LHKH:LUVLQGHLQVXQGGHU6WXUPGHU-DKUHVHQNWVLFK QLHGHU]XU'lPPHUXQJXQGGHU.lIHUHUVFKHLQW 2.lIHU'DV6XUUHQGHLQHV7RQHV VHLLPPHUGHU7DXPHOGLHVHU]LWWHUQGHQ.HKOH ,FKHUZDUWHGDV(UZHFNHQ'HQ5XIYRQREHQ YRP+HUUQ$GRQDLYRP+HUUQ$GRQDLªVR
%H]JOLFK$GRQDLGHV7LWHOVGHUGHP+HLOLJHQ6FKXW]HQJHOJHJHEHQ ZLUG N|QQHQ ZLU LP DOOHUOHW]WHQ 9HUV GHV /LEHU /;9 HLQHQ ZHLWHUHQ +LQZHLV IU XQVHUH([HJHVH ILQGHQ (U ODXWHW ©8QG PHLQ +HUU$GRQDL LVW]XDOOHQ6HLWHQXPPLFKZLHHLQ%OLW]VWUDKOZLH HLQ 3\ORQ ZLH HLQH 6FKODQJH XQG ZLH HLQ 3KDOOXV XQG LQPLWWHQ YRQDOOGHP LVWHUZLHHLQH )UDX GLHGLH0LOFKGHU6WHUQHDXVLKUHQ %UXVWZDU]HQ VSULW]W MD GLH GLH 0LOFK GHU 6WHUQH DXV LKUHQ %UXVW ZDU]HQVSULW]Wª 'LHhEHUVHW]XQJZXUGHGHUGHXWVFKHQ$XVJDEHYRQb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
'LHVHU 6DW] PDJ ]XQlFKVW ]LHPOLFK PHUNZUGLJ XQG REVNXU NOLQJHQ HUVW PLW +LOIH XQVHUHU NDEEDOLVWLVFKHQ *UXQGZHUN]HXJH NRPPHQZLUVHLQHP6LQQQlKHU $ $OHSKGHU'RQQHUNHLOQDFK)RUPXQG=XRUGQXQJ ' 'DOHWKZ|UWOLFKHLQ7RU GHVKDOE3\ORQ(LQJDQJVWRU]XP lJ\SWLVFKHQ7HPSHO 1 1XQZ|UWOLFKHLQ )LVFKGHP6NRUSLRQ]XJHRUGQHWXQWHU GHVVHQGUHLHLQKHLWOLFKHQ%HGHXWXQJHQHLQHGLH 6FKODQJHLVW,
6R HUOlXWHUW XQG EHWRQW GHU HUVWH 7HLO GHV :RUWHV HLQIDFK GD GHU +HUU $GRQDL XQV ]X DOOHQ 6HLWHQ XPJLEW0DQ LVW Y|OOLJ YRQ VHLQHU *RWWKHLW XPJHEHQ 'LH )UDX GLH GLH 0LOFK GHU 6WHUQH DXV LKUHQ %UVWHQ VSULW]W LVW QDWUOLFK 1XLW GLH 'DPH GHV 6WHUQHQKLPPHOV GDV lJ\SWLVFKH 6\PERO IU 8QHQGOLFKHQ 5DXP LQQHUKDOE GHVVHQ GLH 6WHUQHQQHEHO DXIWDXFKHQ XQG VRPLW YHUZDQGW PLW $LQ 6RSK $GRQDLLVWHLQVSLULWXHOOHV=HQWUXPLQQHUKDOEGHU*UHQ]HQORVLJNHLW GHV 8QHQGOLFKHQ /LFKWV XQG V\PEROLVLHUW JHZLVVHUPDHQ GHQ XQHQGOLFKHQ*RWWLP*HJHQVDW]]XPHQGOLFKHQ0HQVFKHQ 'RFK QXQ]XU 6FKODQJH +DQV-RQDV VDJWLQVHLQHPPDJHEHQGHQ :HUN7KH*QRVWLF5HOLJLRQ ©0HKU DOV HLQH JQRVWLVFKH 6HNWH OHLWHWH LKUHQ 1DPHQ YRP .XOW GHU 6FKODQJH KHU 2SKLWHV! YRP JULHFKLVFKHQ :RUW RSKLV !1DDVHQHV! YRP KHEUlLVFKHQ :RUW QDKDV GLH *UXSSH DOV JDQ]HV EH]HLFKQHWH VLFK DOV RSKLWLVFK XQGGLHVHU6WHOOHQZHUWGHU6FKODQJHEDVLHUWDXIHLQHUNK QHQ $OOHJRULH DXI GHQ ELEOLVFKHQ 7H[W 'LH 3HUDWDH VFKUHFNWHQ QLFKW HLQPDO GDYRU ]XUFN GHQ KLVWRULVFKHQ -HVXV DOV HLQH VSH]LHOOH ,QNDU QDWLRQGHU©DOOJHPHLQHQ6FKODQJH ]XEHWUDFKWHQGKGHU6FKODQJHGHV 3DUDGLHVHV DOV 3ULQ]LS YHUVWDQGHQ =X 0DQLV =HLW GHP GULWWHQ -DKU KXQGHUW ZXUGH GLH JQRVWLVFKH ,QWHUSUHWDWLRQ GHU 3DUDGLHVJHVFKLFKWH XQG GHU 9HUELQGXQJ -HVX ]X LKU VR DOOJHPHLQ DQHUNDQQW GD 0DQL HLQIDFK -HVXV DQ GLH 6WHOOH GHU 6FKODQJH VHW]HQ NRQQWH XQG OHW]WHUH JDU QLFKWPHKU]XHUZlKQHQEUDXFKWHª =LWLHUWQDFK,5HJDUGLH
+LHUDXV HUJHEHQ VLFK HLQLJH LQWHUHVVDQWH 0|JOLFKNHLWHQ GHQQ LP +HEUlLVFKHQJLEWHVIUGLH6FKODQJHGDV:RUWQDFKRVK:HQQZLU GLHVHV:RUWLQGHUEHNDQQWHQ:HLVHDQDO\VLHUHQHUKDOWHQZLU
'LH6XPPHLVW 1XQ PVVHQ ZLU QRFK HLQPDO GDV 6HSKHU 6HSKLURWK]X 5DWH ]LHKHQ 'RUW ILQGHQ ZLU XQWHU GHU HUPLWWHOWHQ =DKO HLQ DQGHUHV KHEUlLVFKHV:RUW0HVFKLDK GHU0HVVLDVRGHUGHU*HVDOEWH
$XFK GLHV HUJLEW GLH 6XPPH 'HVKDOE PVVHQ ZLU VFKOXIRO JHUQ GD HV ]ZLVFKHQ GHU 6FKODQJH XQG GHP 0HVVLDV YLHOH hEHU HLQVWLPPXQJHQ JLEW 0LWWHOV GHU 6FKODQJHQNUDIW GHV LQQHUHQ WUDQVIRUPLHUHQGHQ JHLVWLJHQ )HXHUV ZLUG GHU $GHSW ]X HLQHP 0HVVLDV RGHU ]X HLQHP (UO|VHU ]XPLQGHVW IU VHLQH HLJHQH LQQHUH :HOW ZHQQ QLFKW DXI RNNXOWH :HLVH IU GLH JDQ]H 0HQVFKKHLW -HGHU 0HQVFK GHU DXI GLHVH :HLVH ]XU )UHLKHLW JHODQJW EULQJW GDGXUFKGLHJDQ]H0HQVFKKHLWGHU)UHLKHLWHLQZHQLJQlKHU 6FKDXHQ ZLU XQV QXQ GLH ,GHHQIROJH LQ MHGHP GLHVHU EHLGHQ :|UWHU DQ 'LH 6FKODQJH YHUZDQGHOW GHQ $GHSWHQ ]X HLQHP 0HUFEK :DJHQ )DKUHU GHU DXI VHLQH P\VWLVFKH +HLPDW LP 8QHQGOLFKHQ /LFKW ]XVWUHEW 'HP]XIROJH PX GLH 6FKODQJH HLQ PDFKWYROOHV $JHQV VHLQ GDV EHL VHLQHU ,OOXPLQDWLRQ HLQH 5ROOH VSLHOW 'DV ]ZHLWH :RUW OLHIHUW XQV DQDORJHV 0DWHULDO 'XUFK $XIRSIHUXQJ DOOHU XQZHVHQWOLFKHQ )DNWRUHQ EHVWHLJW GHU +HLOLJH *HLVW RGHU GHU +HLOLJH 6FKXW]HQJHO GHU DOV GHU (LQVLHGOHU RGHU DOV VWLOOHU ,OOXPLQDWRU GHU 0HQVFKKHLW IQJLHUW +HVHNLHOV :DJHQ XQG IlKUWKLPPHOZlUWV
,$2
'DQQ JLEW HV QRFK GHQ JQRVWLVFKHQ *RWWHVQDPHQ ,$2 'LHV LVW HLQHU MHQHU DUFKDLVFKHQ 1DPHQ EHU ZHOFKH GDV VRJHQDQQWH &KDOGlLVFKH2UDNHOVDJW©9HUlQGHUHQLFKWGLHEDUEDULVFKHQ1DPHQ GHU %HVFKZ|UXQJ GHQQ VLH KDEHQ LQ GHQ KHLOLJHQ 5LWHQ HLQH XQDXVVSUHFKOLFKH 0DFKWª 1XQ P|JHQ ZLU XQV IUDJHQ ZDV IU HLQH $UW YRQ 0DFKW GLHVHU 1DPH KDEHQ PDJ 'LHVH )UDJH OlW VLFK GXUFK 7UDQVOLWHUDWLRQ GHV 1DPHQV LQV +HEUlLVFKH XQG GXUFK DQVFKOLH HQGH(UPLWWOXQJGHUMHW]LUDWLVFKHQ$WWULEXWHEHDQWZRUWHQ(VJLEW ]ZHL0|JOLFKNHLWHQGLHV]XWXQXQGEHLGHIKUHQ]XLQWHUHVVDQWHQ (UJHEQLVVHQ
'LH=DKOUHSUlVHQWLHUWGLH=DKOGHU4XDGUDWHLQGHU6ZDVWLND RGHULP)\OIRW.UHX]6HLQHU)RUPQDFKUHSUlVHQWLHUWHV$OHSKGHQ 'RQQHUNHLO8QG$OHSKLVWGHUHUVWH%XFKVWDEHGHV$OSKDEHWVXQG KDWGHQQXPHULVFKHQ:HUWO'LH]ZHLWH0|JOLFKNHLWIKUW]XHLQHP HWZDVDQGHUHQ(UJHEQLV
'LH=DKO LVWGLHP\VWLVFKH=DKO GHV0RQGHV/XQD ZLUG-HVRG ]XJHRUGQHW GHU 6HSKLUDK PLW GHP 1DPHQ )XQGDPHQW 'DV PD JLVFKH4XDGUDWYRQ/XQDLVW[PLW)HOGHUQ'DGLHVQLFKWLP JHULQJVWHQ]XXQVHUHUYRUDQJHJDQJHQHQ'LVNXVVLRQSDWHUVFKHLQW PLUGLHHUVWH0HWKRGHDOVGLHJHHLJQHWHUH :HQQ GHU QXPHULVFKH :HUWYRQ,$2LVWZDVGXUFKGLHREHQ EHVFKULHEHQH 6\PEROLN DXI$OHSK XQG GDPLW DXI GHQ 'RQQHUNHLO EH]RJHQZLUGVRKDEHQZLUQXQHLQHZHVHQWOLFKNODUHUH9RUVWHOOXQJ EHUGLHJ|WWOLFKH0DFKWXPGLHHVKLHUJHKW(VLVWGLH0DFKWGHV 9DWHUV DOOHU *|WWHU GHU VHLQHQ 'RQQHUNHLO RGHU %OLW]VWUDKO VFKOHXGHUW GLH VNDQGLQDYLVFKH 6ZDVWLND RGHU GHU WLEHWLVFKH'RU M H XPVHLQHQ6FK|SIXQJVZLOOHQ]XPDQLIHVWLHUHQ0DQEHDFKWH
DXHUGHPGD$OHSKGHU'RQQHUNHLOLQGHUJ|WWOLFKHQ/XIWDJLHUW HLQJHVFKORVVHQ YRQ ]ZHL (UG]HLFKHQ -XQJIUDX XQG 6WLHU GLH LKUH 6XEVWDQ] LQ GLH LKQHQ HQWVSUHFKHQGH )XQNWLRQ GHU 6FK|SIXQJ VFKOHXGHUQ :HOFK ODQJHQ :HJ KDEHQ ZLU PLWWOHUZHLOH YRQ XQVHUHP $XV JDQJVSXQNW ©-HVXV YRQ 1D]DUHWK .|QLJ GHU -XGHQª ]XUFNJHOHJW 8QGZHQQXQVHUHNDEEDOLVWLVFKHQ0HWKRGHQXQVDXIJUXQGYRQQXU YLHU %XFKVWDEHQ VFKRQ VR WLHIH(LQVLFKWHQHUP|JOLFKHQ VR P|JH VLFK GHU 6WXGHQW VHOEVW DXVPDOHQ LQ ZHOFKHP $XVPD XQV GLH %HWUDFKWXQJ DQGHUHU :|UWHU XQG ,GHHQ HUOHXFKWHQ N|QQWH 6LH ZHUGHQ GLH XQJHKHXUHQ 0|JOLFKNHLWHQ ]HLJHQ GLH LQ HLQHP HLQ ]LJHQ :RUW RGHU 6DW] HQWKDOWHQ VLQG 'LH HQJOLVFKH hEHUVHW]XQJ GHV6RKDUHQWKlOWXQ]lKOLJH%HLVSLHOHGHU([HJHVHYLHOHUHLQIDFKHU ELEOLVFKHU,GHHQ%HYRUPDQPHUNWZDVGDYRUVLFKJHKWZLUGPDQ YRQ HLQHP HUUHJHQGHQ VSLULWXHOOHQ $EHQWHXHU PLWJHULVVHQ GDV QXU LP 9HUVFKPHO]HQ GHU 6HHOH PLW LKUHP J|WWOLFKHQ 8UVSUXQJ HQGHQ NDQQ
=XP$EVFKOXGLHVHV.DSLWHOVP|FKWHLFKHLQLJHKLQVLFKWOLFKLKUHV ,QKDOWV XQG LKUHU %HGHXWXQJ ]LHPOLFK NRPSOL]LHUWH %HLVSLHOH DQIKUHQXPGLH)XQNWLRQVZHLVHHLQLJHUNDEEDOLVWLVFKHU$UWHQGHU ([HJHVH]XHUOlXWHUQ'DVIROJHQGH%HLVSLHOVWDPPWDXV&URZ
OH\V6FKULIW7KH9LVLRQDQG7KH9RLFH/LEHUVHFRQGSDUWRIWKH )RXUWHHQWK$HWK\U>(TXLQR[96XSSOHPHQW@
©'LH 6FKZlU]H VDPPHOW VLFK VR GLFN VR NOHEULJ VR GXUFKGULQJHQG VR QLHGHUGUFNHQGGDQHEHQLKUMHGHDQGHUH'XQNHOKHLWGLHLFKMHJHVHKHQ KDEHZLHKHOOHV/LFKWHUVFKHLQHQZUGH
6HLQH 6WLPPH IOVWHUW 2 GX GHU GX GHU 0HLVWHUGHUIQI]LJ7RUH GHV 9HUVWHKHQV ELVWLVWPHLQH0XWWHUQLFKWHLQHVFKZDU]H)UDX"2GXGHUGX GHU 0HLVWHU GHV 3HQWDJUDPPV ELVW LVW QLFKW GDV (L GHV *HLVWHV HLQ VFKZDU]HV (L" +LHU KHUUVFKW GHU6FKUHFNHQ XQG GHU EOLQGH 6FKPHU] GHU 6HHOH XQG IUZDKU 6RJDU LFK GHU LFK SXUHV /LFKW ELQ HLQ HLQJHVSHUUWHU )XQNHVWHKHLP=HLFKHQYRQ$SRSKLVXQG7\SKRQ
,FK ELQ GLH 6FKODQJH GLH GHQ *HLVW GHV 0HQVFKHQ PLW GHP 9HUODQJHQ QDFK /LFKW YHUVFKOLQJW,FKELQGHUEOLQGH6WXUPLQGHU1DFKWGHUGLH :HOW PLW 7URVWORVLJNHLW XPKOOW &KDRV LVW PHLQ 1DPH XQG XQGXUFK GULQJOLFKH 'XQNHOKHLW :LVVH GD GLH 'XQNHOKHLW GHU (UGH U|WOLFK LVW XQG GLH 'XQNHOKHLW GHU /XIW JUDX GRFK GLH 'XQNHOKHLW GHU 6HHOH LVW WLHIVWH6FKZlU]H
'DV (L GHV *HLVWHV LVW HLQ %DVLOLVNHQ(L XQG GHU 7RUH GHV 9HUVWHKHQV VLQG IQI]LJ GDV LVW GDV =HLFKHQ GHV 6NRUSLRQV 'LH 3IHLOHU EHU GHP 1HRSK\WHQ VLQG YRQ )HXHU JHNU|QW XQG GDV *HZ|OEH ZLUG YRQ GHU 5RVH HUOHXFKWHW 8QG LP $EJUXQG EHILQGHW VLFK GDV $XJH GHV )DONHQ 'RFK DXI GHP JURHQ 0HHU ZLUG GHU 0HLVWHU GHV 7HPSHOV ZHGHU 6WHUQ QRFK 0RQG ILQGHQª ([HJHWLVFKH$QDO\VH
'DV JHVDPWH =LWDW KDQGHOW YRP hEHUZLQGHQ GHV $EJUXQGV XQG YRP YLVLRQlUHQ(LQWULWWLQGLHGULWWH6HSKLUDKRGHU(PDQDWLRQGHV /HEHQVEDXPHV %LQDK ,KUH $WWULEXWH VLQG XQWHU DQGHUHP GDV *URH 0HHU DXV GHP DOOHV /HEHQ HQWVSUXQJHQ LVW GHU 3ODQHW 6DWXUQ 3ODQHWGHV7RGHVZLHDXFKGHU6WDELOLWlW$LPDK(ORKLP GLH0XWWHUGHU*|WWHU ,VLVGLH*|WWLQGHU1DWXU%DEDORQGLH 3DSXVQHQQWGLHVGLH©IQI]LJ7RUHGHU,QWHOOLJHQ]ª$QPGhEHUV 'HU%DVLOLVNLVWHLQ)DEHOWLHUPLWW|GOLFKHP$WHPXQG%OLFN$QPG hEHUV
*|WWLQ GLH 6KDNWL UHSUlVHQWLHUW GLH XQLYHUVHOOH NUHDWLYH (QHUJLH XQG )UHXGH $XIJUXQG GLHVHU +LQZHLVH ZLUG HLQ JURHU 7HLO GHVVHQ ZDV LQ GHU 9LVLRQ DXI YHUVFKOVVHOWH :HLVH ]XP $XVGUXFN NRPPW UHODWLYNODU 'D GLH 9LVLRQ PLW GHU 6FKZlU]H EHJLQQW ZLUG GLHV ]X HLQHU IXQGDPHQWDOHQ %HVWlWLJXQJ GDIU GD VLFK GHU 6HKHU DXI GHP ULFKWLJHQ :HJ EHILQGHW $OOH 6\PEROH VLQG KDUPRQLVFK XQG GLH 3IDGH GHU $VVR]LDWLRQ ZHUGHQ QLFKW GXUFK XQSDVVHQGH 6\PEROH YHUVWRSIW %LQDKZLUG DOV ©9HUVWHKHQª EHUVHW]W 8QG GD GLHVH 6HSKLUDK 6DWXUQXQGGHP7RG]XJHRUGQHWZLUGLVWGDV6WHUQ]HLFKHQ6NRUSLRQ HLQ YHUZDQGWHV 6\PERO ZHOFKHV VHLQHUVHLWV GHU 7DURWNDUWH © GHU 7RGª ]XJHRUGQHW ZLUG GLH JHZ|KQOLFK XQIUHLZLOOLJH 9HUlQGHUXQJHQ 7UDQVIRUPDWLRQ XQG 6XEOLPDWLRQ DQ]HLJW 'HU LP 6HSKHU -HW]LUDK GHP 6WHUQ]HLFKHQ 6NRUSLRQ]XJHRUGQHWHKHEUlLVFKH%XFKVWDEHLVW 1XQZDV )LVFK EHGHXWHW 'HU 1XQ]XJHRUGQHWH QXPHULVFKH :HUW LVW 'LHV VLQG GLH 7RUH GHV 9HUVWHKHQV IQI]LJ DQ GHU =DKO DOOHVDPW 9HUELQGXQJVJOLHGHU LQ HLQHU ODQJHQ DEHU ]XWUHIIHQGHQ $VVR]LDWLRQVNHWWH 'HP 6NRUSLRQ HQWVSULFKW GHU %DVLOLVN HLQ WRGEULQJHQGHV )DEHOWLHU $QPGhEHUV 'HP3ODQHWHQ 6DWXUQLVW 6FKZDU] GLH )DUEH GHU 7UDXHU ]XJHRUGQHW 'D DXFK ,VLV GLH *URH 0XWWHU GLHVHU 6SKlUH DQJHK|UW HQWKlOW GDV RELJH=LWDWGHQ 6DW] ©,VW PHLQH 0XWWHU QLFKW HLQH VFKZDU]H )UDX"ª 8QG ZLH ZLU EHUHLWV IUKHU JHK|UW KDEHQ LVW GDV =HLFKHQ GHV $SRSKLV XQG 7\SKRQGDV=HLFKHQGHU=HUVW|UXQJ -HGHP GHU IQI 6SLW]HQ GHV 3HQWDJUDPPV ZLUG HLQHV GHU IQI (OHPHQWH ]XJHRUGQHW 'HU IQI]DFNLJH 6WHUQ V\PEROLVLHUW GLH *HVWDOW GHV YROOHQGHWHQ 0HQVFKHQ GHU DOOH %HUHLFKH VHLQHU 3HU V|QOLFKNHLW HQWZLFNHOW KDW ZHOFKH GXUFK GLH (OHPHQWHUHSUlVHQWLHUW ZHUGHQ -HGHV (OHPHQW KDW VHLQH HLJHQHQ 6\PEROH ,P 2VWHQ ZLUG GHU *HLVW GLH 4XLQWHVVHQ] RGHU $NDVKD GXUFK HLQ DXIUHFKW VWHKHQGHVVFKZDU]HV(LV\PEROLVLHUW %LQDK ZLUG GXUFK GLH (QWVSUHFKXQJ GHU 1DFKW GHU WLHIVWHQ VFKZDU]HQ 1DFKW UHSUlVHQWLHUW GLH &URZOH\ HLQPDO SRHWLVFK DOV 6WDGW GHU 3\UDPLGHQ XQWHU GHQ 12; RGHU 1DFKW GHV 3DQ EH ]HLFKQHWH VRZLH JHOHJHQWOLFK PLW GHP 1DPHQ HLQHU VHLQHU IU KHUHQ )UHXQGLQQHQ /HLOD GHQ HU QDWUOLFK LP 6LQQH GHV KHEUlL VFKHQ :RUWHV /D\ODK 1DFKW GHXWHWH 6R ZDQGHOWH &URZOH\ HLQH SHUV|QOLFKH%H]LHKXQJLQHLQ6\PEROHLQHUKRKHQVSLULWXHOOHQ
(UIDKUXQJ XP $OOHGLHVH $WWULEXWH ZHUGHQ EH]RJHQ DXI%LQDKXQG 6FKHNLQDK GLH J|WWOLFKH *HJHQZDUW GHU ,PPDQHQ] *RWWHV XQG DXI GDV &KDRV GDV 5HLFK GHV 8QJHIRUPWHQ XQG 8QJHVFKDIIHQHQ 'LH 9LVLRQ DOV *DQ]HV EH]LHKW VLFK GHVKDOE DXI %LQDK XQG 6NRUSLRQ DXI 7RG XQG :LHGHUJHEXUWDXI GLH7UDQVIRUPDWLRQ GHV LFKKDIWHQ 0HQVFKHQ ]X 1(02 GHP ©1LHPDQG ª RGHU 1LFKW 0HQVFK GHQQ LQGHP HU DOV HLJHQVWlQGLJHV ,QGLYLGXXP JHVWRUEHQ LVW LVW HU HLQVJHZRUGHQ PLW GHP +HLOLJHQ *HLVW DOOHV /HEHQGLJHQ PLWGHP6HOEVW 'LH)DPD)UDWHUQLWDWLV
(LQNODVVLVFKHV:HUNGHU/LWHUDWXUGHU5RVHQNUHX]HUGDVLFKEHUHLWV HUZlKQW KDEH LVW GLH )DPD )UDWHUQLWDWLV(V HUVFKLHQ HUVWPDOV LQ .DVVHO XQG ]LUNXOLHUWH QDWUOLFK LQ GHQ .UHLVHQ GHU HXURSlLVFKHQ 0\VWLNHU $OFKLPLVWHQ XQG 2NNXOWLVWHQ MHQHU =HLW (LQH YROO VWlQGLJH 9HUVLRQ GLHVHV :HUNV ZXUGH ]XVDPPHQ PLW HLQLJHQ DQ GHUHQ NODVVLVFKHQ 5RVHQNUHX]HUVFKULIWHQ XQG GHP 7LWHO 5R VLFUXFLDQ )XQGDPHQWDOVYRQ .KHL ; *HRUJH :LQVORZ 3OXPPHU YRQ GHU 6RFLHWDV 5RVLFUXFLDQD LQ $PHULND YHU|IIHQWOLFKW 1HZ
2UGHU ©'HU ZDKUH XQG XQVLFKWEDUH 2UGHQ GHU 5RVHQNUHX]HUª ,Q GLHVHP %XFK ZHUGHQ GLH (LQ]HOKHLWHQ GHU )DPD XQG DQGHUHU IUKHU 'RNXPHQWH GHU 5RVHQNUHX]HU VR DXHURUGHQWOLFK GHWDLOOLHUW DQD O\VLHUW GD GHU $QIlQJHU YHUPXWOLFK YRQ GHU JURHQ 9LHOIDOW XQG GHU .XQVWIHUWLJNHLW GHU 'DUOHJXQJHQ GHV $XWRUV EHUZlOWLJW ZLUG )U GHQ IRUWJHVFKULWWHQHUHQ 6WXGHQWHQ MHGRFK LVW GLHV HLQ QW]OL FKHV *UXQGODJHQZHUN DXI GHP HU GXUFK VWlQGLJH (UZHLWHUXQJ VHLQHU .HQQWQLV GHU LQ GLHVHP .DSLWHO VNL]]LHUWHQ 0HWKRGHQ VRZLH GXUFKVHLQHHLJHQHQ0HGLWDWLRQHQDXIEDXHQNDQQ ,FK ZHUGH HLQHQ RGHU ]ZHL 1DPHQ DXV GHU )DPD DXVZlKOHQ XP ]X HUOlXWHUQ ZLH PDQ VLH VLFK PLWWHOV GHU .DEEDOD GHU =DKOHQ XQG 6\PEROH HUVFKOLHHQ NDQQ %HLVSLHOVZHLVH EHULFKWHW GLH *H VFKLFKWH GD & 5 & PLW GHQ $UDEHUQ HLQH 9HUHLQEDUXQJ WUDI GHU]XIROJH VLH LKQ QDFK 'DPFDU PLWQHKPHQ VROOWHQ (LQLJH IUKH .RPPHQWDWRUHQ ZDUHQ GHU $QVLFKW GDEHL KDQGOH HV VLFK XP 'DPDVNXV 'RFK GD GLH EHVDJWH /HJHQGH 6\PEROFKDUDNWHU KDW PX PDQ DXFK GLH GDULQ YRUNRPPHQGHQ 1DPHQ V\PEROLVFK GHXWHQ :HQQ ZLU QXQ 'DPFDU HQWVSUHFKHQG GHQ EHUHLWV HUOlXWHUWHQ 5HJHOQ LQV +HEUlLVFKH WUDQVNULELHUHQ HUKDOWHQ ZLU ]ZHL :|UWHU GDP EHVWHKHQG DXV GHQ %XFKVWDEHQ 'DOHWK XQG 0HP ZDV %OXW EHGHXWHW XQG FDU &DSK XQG 5HVK HLQ :RUW PLW GHU %HGHXWXQJ /DPP 6R ZLUG GHU VFKHLQEDUH 2UWVQDPH ]XP 6\PERO ©%OXW GHV /DPPHVª 1DWUOLFK ZDUHQ GLH 5RVHQNUHX]HU &KULVWHQ XQG ]ZDU UHIRUPLHUWH &KULVWHQ GRFK GD VLH DXFK 0\VWLNHU ZDUHQ LQWHUSUH WLHUWHQ VLH GLH WUDGLWLRQHOOH FKULVWOLFKH /HKUH DXI V\PEROLVFKH :HLVH ©'DV %OXW GHV /DPPHV GDV GLH 6QGHQ GHU :HOW KLQZHJ QLPPWªZXUGHYRQLKQHQV\PEROLVFKYHUVWDQGHQ 'DV/DPP LP/DWHLQLVFKHQ$JQXV HQWVSULFKWLQGHQ6FKULIWHQ GHU +LQGXV $JQL GHP 6\PERO IU GDV 2SIHUIHXHU XQG LQ GHU ZHVWOLFKHQ :HOW LVW QDWUOLFK &KULVWXV GDV 2SIHUODPP :LH EHUHLWV LP .DSLWHO EHU 0HGLWDWLRQ HUZlKQW VROO 0HGLWDWLRQ LQ 9HUELQ GXQJ PLW DQGHUHQ RNNXOWHQ 3UDNWLNHQ GLH =XVDPPHQVHW]XQJ GHV %OXWHV YHUlQGHUQ ZDV ZLHGHUXP GLH QRUPDOH )XQNWLRQVZHLVH GHV ]HUHEUDOHQ.RUWH[YHUlQGHUW%HLP6WLOOVWDQGGHU*HGDQNHQDNWLYLWlW NDQQ GLH (UOHXFKWXQJ HLQWUHWHQ 'DV EHGHXWHW GD GDV ,FK YHUVFKZLQGHW XQG GD GHU $GHSW HLQHQ $XJHQEOLFN ODQJ ]X HLQHP *HIlKUW GHV J|WWOLFKHQ *HLVWHV ]XP /DPP *RWWHV ZLUG E]ZHU HUNHQQWGDHUGLHVLVW
'HU7HPSHO]X 'DPFDULQGHQ&5&YRQGHQ$UDEHUQJHEUDFKW ZXUGH GLH ]X MHQHU =HLW GLH +WHU GHV DOWHQ :LVVHQV ZDUHQ LVW VRPLW GHU $GHSW VHOEVW VHLQ HLJHQHU 2UJDQLVPXV 'HQQ KDW PDQ XQV QLFKW JHVDJW GHU .|USHU VHL GHU 7HPSHO GHV +HLOLJHQ *HLVWHV" $XIGLHVH:HLVHZLUGLPSOL]LHUWGDGLH$UDEHUGLH&5&QDFK 'DPFDUEUDFKWHQLKQLQHLQ*HKHLPQLVRNNXOWHU3UD[LVHLQZHLKWHQ ZRGXUFK HU ]XP 9HKLNHO IU GLH hEHUPLWWOXQJ GHU .UlIWH GHU K|KHUHQVSLULWXHOOHQ(EHQHQZXUGH 'RFK VFKDXHQ ZLU XQV HLQPDO GLH *HPDWULD GLHVHU EHLGHQ :|UWHU DQ
:LU ZROOHQ GLH EHLGHQ :|UWHU ]XQlFKVW JHWUHQQW XQG DQVFKOLHHQG ]XVDPPHQ EHWUDFKWHQ %HLVSLHOVZHLVH KDWGDP ZDV %OXW EH GHXWHWGHQJOHLFKHQQXPHULVFKHQ:HUWZLHGLHKHEUlLVFKHQ:|UWHU IU :LGGHU>WHODK@ )ODPPHOHKDW XQG /HLGDJDP 'LHVH:|UWHU VLQG GHP 6HSKHU 6HSKLURWK HQWQRPPHQ LQ ZHOFKHP MHZHLOV PHKUHUH :|UWHU PLW GHP JOHLFKHQ QXPHULVFKHQ :HUW DXIJHIKUW ZHUGHQ :HQQ GHU 6WXGHQW HLQ ZHQLJ EHU GLH %HGHXWXQJGLHVHU :|UWHU PHGLWLHUW ZLUG HV LKP JHOLQJHQ VLH PLW GHU ]XHUVW HUPLWWHOWHQ%HGHXWXQJ©%OXWGHV/DPPHVªLQ(LQNODQJ]XEULQJHQ 'DV :RUWFDU GDV /DPP EHGHXWHW KDW GHQ JOHLFKHQ QXPH ULVFKHQ :HUW ZLH%DKHU GHU $XVHUZlKOWH XQG ZLH HLQ :RUWDXV GHP $OWHQ 7HVWDPHQW QHSKLOLP *LJDQWHQ (V GUIWH QLFKW VFKZHUIDOOHQGLH9HUELQGXQJ]ZLVFKHQGLHVHQ:|UWHUQXQGXQVHUHP $XVJDQJVEHJULIIKHU]XVWHOOHQ :HQQ ZLU DQGHUHUVHLWV 'DPFDU EHWUDFKWHQ XQG LP6HSKHL 6H SKLURWKXQWHU GHP QXPHULVFKHQ :HUWQDFKVFKDXHQVRILQGHQ ZLU :|UWHU ZLHFKHNRNLP +|KOHQ XQGUHKRWLP .DQlOH *UlEHQ 5RKUH 'LHVH EHLGHQ :|UWHU ZXUGHQ XUVSUQJOLFK LQ =XVDPPHQ KDQJ PLW GHQ ]HKQ 6HSKLURWK GHV /HEHQVEDXPV EHQXW]W XQG VLH GHXWHWHQ GDUDXI KLQ GD HV +|KOHQ XQG .DQlOH JDE GXUFK ZHOFKH 0H]ODGDVJ|WWOLFKH/HEHQXQGGHUJ|WWOLFKH*HLVWIOR 1RFKHLQHOHW]WH0DQLSXODWLRQVHLKLHUDQJHIKUW 'LHVH=DKO ZXUGH DQ IUKHUHU 6WHOOH LQ GLHVHP%XFKPLWGHP3IDG YRQ *LPHO LQ 9HUELQGXQJ JHEUDFKW PLW GHU +RKHQSULHVWHULQ GHV 7DURW$OOHGLHVH:|UWHU=DKOHQXQG6\PEROHEHVFKUHLEHQ'DP
FDUXQGGXUFK0HGLWDWLRQNDQQPDQGHQ%HGHXWXQJVXPIDQJGLHVHV %HJULIIVQRFKHUZHLWHUQ =XP$EVFKOX
'LHV VLQG HLQLJH GHU 0HWKRGHQ GLH GLH .DEEDOLVWHQ YLHOHU 6FKXOHQ EHQXW]HQ DOWHU ZLH PRGHUQHU KHEUlLVFKHU ZLH FKULVWOLFKHU RU WKRGR[HU ZLH DXFK GHUMHQLJHQ 6FKXOHQ GLH *HUVKRP 6FKROHP LUUWPOLFK DOV ©QLKLOLVWLVFKH 0\VWLNª EH]HLFKQHW KDW (LQLJH GHU HUZlKQWHQ 0HWKRGHQ P|JHQ GHP /HVHU DOV EHUWULHEHQ RGHU DQ GHQ +DDUHQ KHUEHLJH]RJHQ HUVFKHLQHQ XQG YLHOOHLFKW VLQG VLH GDV WDWVlFKOLFK 6ROOWHQ VLH MHGRFK DQGHUHUVHLWV DXFK QXU HLQ .|UQFKHQ 6LQQDXVDQVRQVWHQREVNXUHQ7H[WHQHQWKOOHQXQGGLH'XQNHOKHLW VWHULOHU6FKULIWHQHUKHOOHQGLHHLQLJHIUZLFKWLJKDOWHQVRN|QQHQ ZLUXQVHLQIDFKGHQ6WDQGSXQNW]XHLJHQPDFKHQGDVLHXQVHLQHQ 'LHQVWHUZHLVHQ
9'LH.XQVWGHVZDKUHQ+HLOHQV
O7HLO
,QMHGHP0DQQXQGLQMHGHU)UDXJLEWHVHLQH.UDIWGLHGHQJH VDPWHQ /HEHQVYHUODXI GHV RGHU GHU %HWUHIIHQGHQ VWHXHUW XQG EH KHUUVFKW$XIGLHULFKWLJH:HLVHJHQXW]WYHUPDJVLHMHGHV/HLGXQG MHGHQ 6FKPHU] ]X KHLOHQ -HGH 5HOLJLRQ EHVWlWLJW GLHVH 7DWVDFKH $OOH )RUPHQ JHLVWLJHQ XQG VSLULWXHOOHQ +HLOHQV ZLH VLH DXFK KHLHQ P|JHQ YHUVSUHFKHQ GDV JOHLFKH6RJDU GLH 3V\FKRDQDO\VH EHGLHQWVLFKGLHVHU.UDIW ZHQQDXFKQXULQGLUHNW XQGKDWIUVLH GHQ KHXWH DOOJHPHLQ EHNDQQWHQ %HJULII /LELGR JHSUlJW 'LH NULWL VFKH(LQVLFKWLQGDVHLJHQH,QQHUHXQGGDVDXVLKUUHVXOWLHUHQGH 9HUVWHKHQ GHU 3V\FKH O|VW 6SDQQXQJHQ YHUVFKLHGHQVWHU $UW 'XUFK GLHVH(QWVSDQQXQJZLUGGLHKHLOHQGH.UDIWDNWLYLHUWGLHLQMHGHP 0HQVFKHQ YRUKDQGHQ LVW -HGHV +HLOV\VWHP YHUPLWWHOW VHLQHQ $QKlQJHUQ 7HFKQLNHQ GHV 'HQNHQV GHU .RQWHPSODWLRQ RGHU GHV *HEHWVGLH QDFKGLHVHQ/HKUHQGHQ.|USHUHUQHXHUQXQGGLHJH VDPWH8PJHEXQJGHV%HWUHIIHQGHQYHUZDQGHOQVROOHQ 1XUZHQLJHMHQHU/HKUHQYRP+HLOHQMHGRFKHUIOOHQWDWVlFKOLFK GLHZHLWUHLFKHQGHQ9HUVSUHFKXQJHQGLHVLHPDFKHQ'LH$QKlQJHU GHU PHLVWHQ /HKUHQ VFKHLQHQ NDXP ]X YHUVWHKHQ ZLH GLH VSLULWXHOOHQ.UlIWHGLH GHP8QLYHUVXP]XJUXQGHOLHJHQXQGGLH GLHPHQVFKOLFKH1DWXUY|OOLJGXUFKGULQJHQ]XU6FKDIIXQJHLQHV QHXHQ+LPPHOVXQGHLQHUQHXHQ(UGHJHQXW]WXQGIUGLHVH=LHOH JHEQGHOWZHUGHQN|QQHQ1DWUOLFKLVWGLHVHV,GHDO]LHORKQHHLQH
XQLYHUVHOOH .RRSHUDWLRQ GHU JHVDPWHQ 0HQVFKKHLW QLFKW ]X HUUHL FKHQ 'HQQRFK NDQQ MHGHU 0HQVFKEHL VLFK VHOEVW PLW GHU $UEHLW GHU1HXVFKDIIXQJEHJLQQHQ 'LHHQWVFKHLGHQGH )UDJHLVWGHPQDFK ZLHZLUXQVMHQHU.UDIW EHZXW ZHUGHQ N|QQHQ 9RQ ZHOFKHU $UW LVW VLH XQG ZHOFKH (LJHQVFKDIWHQKDWVLH"8QGZLHN|QQHQZLUVLHQXW]HQ" 8QJHQXW]WH(QHUJLH 6WU|PH
:LH LFKEHUHLWVVDJWH KDEHQGLH YHUVFKLHGHQHQ 6\VWHPH GHV +HL OHQVVHKUXQWHUVFKLHGOLFKH 0HWKRGHQ HQWZLFNHOW PLWGHUHQ+LOIH GHU hEHQGH GLH ([LVWHQ] HLQHU OHEHQVSHQGHQGHQ 0DFKW LQWXLWLY HUNHQQHQ NDQQ 0HGLWDWLRQ *HEHW ,QYRNDWLRQ HPRWLRQDOH (UUH JXQJ XQG )RUGHUXQJHQ DQ GDV 8QLYHUVXP RGHU GHQ 8QLYHUVDOHQ *HLVW VLQG HLQLJH MHQHU 0HWKRGHQ /HW]WOLFK KDEHQ VLH DOOH ZHQQ PDQ GLH XQZHVHQWOLFKHQ 'HWDLOV DXHU DFKW OlW HWZDV :HVHQW OLFKHV JHPHLQVDP ,QGHP ZLU GLH JOKHQGH .UDIW GHV *HLVWHV QDFK LQQHQ DXI GLHVHQ VHOEVW ULFKWHQ XQG XQV LQ HLQHQ JHZLVVHQ HPRWLR QDOHQ (UUHJXQJV]XVWDQG EULQJHQ N|QQHQ ZLU XQV MHQHU ]XYRU QLFKW HUDKQWHQ.UDIWVWU|PHEHZXWZHUGHQ'LH6WU|PHZHUGHQLQQHUOLFK IDVW DOV HOHNWULVFK HPSIXQGHQ XQG VLH ZLUNHQ KHLOHQG XQG LQWHJULHUHQG 'XUFK EHZXWH $QZHQGXQJ GLHVHU .UDIW LVW HV P|JOLFK .|USHU XQG *HLVW ]XKHLOHQ :HQQ VLHJHOHQNW ZLUG ZLUNWVLHZLHHLQ0D JQHW 'HUMHQLJHGHUVLFKLKUHUEHGLHQW NDQQ PLWLKUHU+LOIH]XVLFK KLQ]LHKHQ ZHVVHQ HU LQ PDWHULHOOHU RGHU VSLULWXHOOHU +LQVLFKW GULQ JHQGEHGDUIRGHUZDVIUVHLQHZHLWHUH(QWZLFNOXQJQRWZHQGLJLVW *UXQGVlW]OLFK OLHJW DOOHQ 0HWKRGHQ JHLVWLJHQ +HLOHQV IROJHQGH ,GHH ]XJUXQGH ,QGHUXQVDOOHXPJHEHQGHQ $WPRVSKlUH XQGLQGHU 6WUXNWXU MHGHU ZLQ]LJHQ .|USHU]HOOH LVW HLQH VSLULWXHOOH .UDIW 'LHVH .UDIWLVW DOOJHJHQZlUWLJ XQGXQEHJUHQ]W 6LH LVWLP NOHLQVWHQ 2EMHNW HEHQVR ZLH LQ GHQ XQYRUVWHOOEDU ULHVLJHQ 6WHUQHQQHEHOQ HQWKDOWHQ 'LHVH .UDIW LVW GDV /HEHQ VHOEVW 1LFKWV LQ GHQ XQHU PHOLFKHQ :HLWHQ GHV 5DXPV LVW WRW $OOHV SXOVLHUW YRQ /HEHQ 6HOEVW GLH XOWUDPLNURVNRSLVFKHQ 3DUWLNHO GHV $WRPV VLQG OHEHQGLJ GDV(OHNWURQ LVWLQ:DKUKHLW HLQH.ULVWDOOLVLHUXQJ GHVHOHNWULVFKHQ $VSHNWVMHQHU.UDIW :HQQGLHVH/HEHQVNUDIWXQEHJUHQ]WLVWVRIROJWGDUDXVGDGHU
0HQVFK YRQ VSLULWXHOOHU .UDIW GXUFKGUXQJHQXQG JHVlWWLJW VHLQ PX 6LH ELOGHW VHLQ K|KHUHV 6HOEVW VLH LVW VHLQH 9HUELQGXQJ ]XU *RWWKHLW VLH LVW *RWW LP 0HQVFKHQ -HGHV 0ROHNO LQ VHLQHP SK\VLVFKHQ .|USHU PX YRQ GLHVHU G\QDPLVFKHQ (QHUJLH GXUFK WUlQNW VHLQ -HGH .|USHU]HOOH HQWKlOW GLHVH .UDIW LP hEHUIOX $QJHVLFKWV GLHVHU 6LWXDWLRQ VWHOOW VLFK GLH )UDJH ZLH MHQHV XQJH KHXUH 3UREOHP HQWVWHKHQ NDQQ GDV DOOHQ .UDQNKHLWHQ ]XJUXQGH OLHJWGDVUlWVHOKDIWH3UREOHPGHUQHUY|VHQ(UVFK|SIXQJ :DVLVW(UVFK|SIXQJ"
:LH NDQQ HV ]X HLQHU (UVFK|SIXQJ GHU 9LWDOLWlW XQG ]X HLQHP 9HUVLHJHQ MHQHU NRVPLVFKHQ .UDIWVWU|PH NRPPHQ GLH *HLVW XQG .|USHU GHV 0HQVFKHQ PLWLKUHU .UDIW HUIOOHQ" 'HU +DXSWJUXQG KLHUIU LVW GD GHU 0HQVFK MHQHP (QHUJLHIOX HLQHQ VR JURHQ :LGHUVWDQG HQWJHJHQVHW]W 'LHV KDW ]XU )ROJH GD HU PGH XQG NUDQN ZLUG ELV GHU .RQIOLNW VFKOLHOLFK ]XP 7RGHIKUW :LH NDQQ GHU VFKZDFKH 0HQVFKGHP 8QLYHUVXP WURW]HQ" :LH NDQQ HVLKP JHOLQJHQ VLFKGHU.UDIWGLHGHP JDQ]HQ 8QLYHUVXP ]XJUXQGH OLHJW XQG GLH VLFK VWlQGLJ UHJHQHULHUW ]X ZLGHUVHW]HQ" 'LH 6HOEVWJHIlO OLJNHLW XQG 9HUZLUUWKHLW VHLQHU JHLVWLJHQ 2ULHQWLHUXQJ GLH PRUD OLVFKH )HLJKHLW ]X GHU HU HU]RJHQ ZXUGH XQG VHLQH IDOVFKH :DKU QHKPXQJ GHU 1DWXU GHV /HEHQV GLHVVLQGGLH 8UVDFKHQGHV :L GHUVWDQGHV JHJHQ GHQ LQQHUHQ )OX GHV J|WWOLFKHQ *HLVWHV 'D DOO GLHV XQEHZXW LVW XQG XQEHZXW YRQVWDWWHQ JHKW HQWNUlIWHW GLHVH $QVLFKW QLFKW ZLH DOOH WLHIHQSV\FKRORJLVFKHQ 6FKXOHQ JH]HLJW KDEHQ :HOFKHU 0HQVFK LVW VLFK DOO GHU XQZLOONUOLFKHQ 3UR]HVVH EHZXW GLH LQ VHLQHP ,QQHUHQ VWDWWILQGHQ" :HU LVW VLFK GHU NRPSOL]LHUWHQ 0HFKDQLVPHQ GHU LQ VHLQHP *HLVW VWDWWILQGHQGHQ 3UR]HVVH EHZXW GLH GLH $XIQDKPH XQG 9HUGDXXQJ GHU 1DKUXQJ GHQ .UHLVODXI GHV %OXWHV XQG GLH 9HUWHLOXQJ GHU 1lKUVWRIIH LQ DOOH .|USHURUJDQH PLWWHOV GHV 6\VWHPV GHU $UWHULHQ VWHXHUQ" $OO GLHV VLQG Y|OOLJ XQZLOONUOLFKH 3UR]HVVH XQGGLHV JLOWLQKRKHP 0DH DXFK IU GHQ :LGHUVWDQG HLQHV 0HQVFKHQ GHP /HEHQ JHJHQEHU 'HU 0HQVFK KDW VLFK PLW HLQHU HUVWDUUWHQ 6FKDOH YRQ 9RUXUWHLOHQ XQG IDOVFK YHUVWDQGHQHQ 3KDQWDVLHQ XPJHEHQ HLQHU 3DQ]HUXQJ GLH HU QLFKW DE]XOHJHQ YHUPDJ XP VLFKGHP /LFKW GHV /HEHQV ]X]XZHQGHQ
,VW HV GD YHUZXQGHUOLFK GD HV LKP QLFKW JXW JHKW" ,VW HV DQJH VLFKWV GLHVHU 7DWVDFKH HUVWDXQOLFK GD HU VR NUDQN LPSRWHQW KLOIORV XQG DUP LVW" :DUXP VROOWH HV XQV EHUUDVFKHQ GD GLH EHUZLHJHQGH =DKO GHU 0HQVFKHQ VR VFKOHFKW PLW LKUHP /HEHQ ]XUHFKWNRPPW" 'LHHUVWHQEHLGHQ6FKULWWH]XU*HVXQGKHLW
'HU HUVWH 6FKULWW ]XU )UHLKHLW XQG *HVXQGKHLW LVW HLQ EHZXWHV (UNHQQHQGHVXQJHKHXUHQVSLULWXHOOHQ5HVHUYRLUVLQGHPZLUOHEHQ XQVEHZHJHQXQGVLQG:LHGHUKROWHLQWHOOHNWXHOOH%HPKXQJGLHV]X HLQHP IHVWHQ %HVWDQGWHLO XQVHUHU JHLVWLJHQ $QVFKDXXQJ ]XPDFKHQ ]HUEULFKWDXWRPDWLVFK MHQHKDUWH6FKDOHGLHVLFKXPXQVHUHQ*HLVW JHOHJW KDWRGHUO|VWVLHDXI,VWGLHVJHVFKHKHQ VRVWU|PHQ /HEHQ XQG J|WWOLFKHU *HLVW LP hEHUIOX 1DFK GLHVHU UDGLNDOHQ 9HUlQGHUXQJGHU/HEHQVDQVFKDXXQJNR PPWHV]XHLQHUVSRQWDQHQ *HVXQGXQJ XQGHLQQHXHV/HEHQEHJLQQW$XHUGHPVFKHLQWGDQQ GLH 8PJHEXQJ JHQDX GLH 0HQVFKHQ DQ]X]LHKHQ GLH DXI YHUVFKLHGHQVWH :HLVH KLOIUHLFK VHLQ N|QQHQ XQG JHQDX GLH $QQHKPOLFKNHLWHQ GHV /HEHQV VWHOOHQ VLFK HLQ QDFK GHQHQ PDQ VLFK]XYRUVRVHKUJHVHKQWKDWWH 'HU]ZHLWH 6FKULWW JHKWLQHLQHHWZDV DQGHUH 5LFKWXQJUHJXOLHUWH $WPXQJ HLQH ]LHPOLFK HLQIDFKH 6DFKH ,KUH 1RWZHQGLJNHLW HUJLEW VLFK DXV GHP IROJHQGHQ 3RVWXODW :HQQ GDV /HEHQ XQV EHUDOO XPJLEW LQ DOOHV HLQGULQJW XQG XQV Y|OOLJ GXUFKGULQJW ZDV N|QQWH GDQQ HLQOHXFKWHQGHU VHLQ DOV GD GLH /XIW VHOEVW GLH ZLU $XJHQ EOLFN IU $XJHQEOLFN DWPHQ LQ K|FKVWHP 0DH PLW 9LWDOLWlW DXIJHODGHQ LVW" 'HVKDOE UHJXOLHUHQ ZLUXQVHUH $WHPSUR]HVVH :LU EHVLQQHQ XQV GDUDXI GD GDV /HEHQ GDV DNWLYH 3ULQ]LS GHU $WPR VSKlUH LVW :lKUHQG GHU IHVWHQ 7DJHV]HLWHQ ]X GHQHQ ZLU UK\WK PLVFKH $WPXQJ EHQ VROOWHQ *HLVW XQG :LOOH QLFKW EHUEHDQ VSUXFKW ZHUGHQ :LU ODVVHQ GHQ $WHP HLQVWU|PHQ ZlKUHQG ZLU LQQHUOLFK VHKU ODQJVDP ]lKOHQ HLQV ]ZHL GUHL YLHU 'DQQ DWPHQ ZLU HEHQVRODQJH DXV (V LVW YRQJUXQGOHJHQGHU %HGHXWXQJ GDGHU DQIlQJOLFKH =lKOUK\WKPXV JDQ] JOHLFK RE PDQELVYLHU RGHU ELV ]HKQ ]lKOW EHLEHKDOWHQ ZLUG 'HQQ HEHQ GLHVHU 5K\WKPXV HU OHLFKWHUW GLH $XIQDKPH GHU 9LWDONUDIW YRQ DXHQ XQG EHVFKOHXQLJW GLH=LUNXODWLRQGHUJ|WWOLFKHQ.UDIWLQQHQ
5K\WKPXV
%HVWlQGLJHU 5K\WKPXV PDQLIHVWLHUW VLFK LP JHVDPWHQ 8QLYHUVXP 'DV 8QLYHUVXP LVW HLQ OHEHQGLJHU 3UR]H GHVVHQ 7HLOH VLFK LQ hEHUHLQVWLPPXQJ PLW GHS ]\NOLVFKHQ *HVHW]HQ EHZHJHQ XQG YRQ GLHVHQ JHVWHXHUW ZHUGHQ 0DQ EHWUDFKWH GLH 6RQQH GLH 6WHUQH XQG GLH 3ODQHWHQ 6LH DOOH EHZHJHQ VLFK PLW YHUJOHLFKEDUHU $QPXW LQ HLQHPXQHUELWWOLFKIHVWHQ5K\WKPXV1XUGLH0HQVFKKHLWKDWVLFKLQ LKUHU ,JQRUDQ] XQG 6HOEVWJHIlOOLJNHLW ZHLW YRQ GHQ J|WWOLFKHQ =\NOHQ DOOHU 'LQJH HQWIHUQW :LU KDEHQ LQ GLH UK\WKPLVFKHQ 3UR ]HVVH GLH GHU JHVDPWHQ 1DWXU ]XJUXQGH OLHJHQ HLQJHJULIIHQ 8QG ZLHKRFKKDEHQZLUGDIUEH]DKOHQPVVHQ :HQQZLUXQVZLHGHUPLWGHULQWHOOLJHQWHQVSLULWXHOOHQ.UDIWLQ (LQNODQJEULQJHQZROOHQGLHLQGHU1DWXUZLUNVDPLVWGDQQVROOWHQ ZLULKUH0HWKRGHQQLFKWEOLQG]XNRSLHUHQYHUVXFKHQVRQGHUQXQV LKUHUDXILQWHOOLJHQWH:HLVHEHGLHQHQ,FKHPSIHKOH,KQHQGHVKDOE ]XEHVWLPPWHQ7DJHV]HLWHQZHQQlXHUH6W|UXQJHQQLFKW]XHUZDUWHQ VLQGUK\WKPLVFKH$WPXQJ]XEHQ3IOHJHQ6LHYRUDOOHPGLH.XQVW GHU(QWVSDQQXQJ/HUQHQ6LHMHGHQYHUVSDQQWHQ0XVNHOYRQGHQ =HKHQELV]XP.RSIDQ]XVSUHFKHQZlKUHQG6LHLP%HWWDXIGHP 5FNHQOLHJHQ%ULQJHQ6LHGLHYHUVSDQQWHQ0XVNHOQGD]XLKUH 6SDQQXQJXQGLKUHXQEHZXWH.RQWUDNWLRQORV]XODVVHQ6WHOOHQ6LH VLFKYRUGDGDV%OXWDXI,KUH9HUDQODVVXQJKLQLQUHLFKOLFKHP0DH LQMHGHV2UJDQVWU|PW/HEHQXQG1DKUXQJLQDOOH.|USHUEHUHLFKH EHI|UGHUWXQGHLQHQ=XVWDQGEOKHQGHUVWUDKOHQGHU*HVXQGKHLW VFKDIIW(UVWQDFK$EVFKOXGLHVHU9RUEHUHLWXQJHQEHJLQQHQ6LHPLW GHPUK\WKPLVFKHQ$WPHQ'HQNHQ6LHGDUDQGDGLHVODQJVDPXQG RKQHMHGH+DVWJHVFKHKHQVROOWH:HQQGHU*HLVWVLFKDQGLH 9RUVWHOOXQJJHZ|KQWKDWZHUGHQGLH/XQJHQGHQ5K\WKPXVVSRQWDQ DXIQHKPHQ1DFKZHQLJHQ0LQXWHQZLUGGLHVDXWRPDWLVFK JHVFKHKHQ'HUJHVDPWH3UR]HZLUGGDQQH[WUHPHLQIDFKXQG DQJHQHKP 'LH %HGHXWXQJ RGHU :LUNVDPNHLW GHV UK\WKPLVFKHQ $WPHQV LVW JDU QLFKW ]X EHUVFKlW]HQ :HQQ GLH /XQJHQ GHQ 5K\WKPXV DXI QHKPHQ XQG DXWRPDWLVFK LQ HLQHP EHVWLPPWHQ =lKOPXVWHU HLQ XQG DXVDWPHQ WHLOW VLFK GLHV DOOPlKOLFK GHP JHVDPWHQ .|USHU PLW XQG JUHLIW DXI GLH XPOLHJHQGHQ =HOOHQ XQG *HZHEH EHU VR ZLH VLFK ZHQQ PDQ HLQHQ 6WHLQ LQ HLQHQ 7HLFK ZLUIW :HOOHQ LQ NRQ]HQ WULVFKHQ.UHLVHQDXVEUHLWHQ1DFKZHQLJHQ0LQXWHQYLEULHUWGHU
JDQ]H.|USHULP(LQNODQJPLWVHLQHU%HZHJXQJ-HGH=HOOHVFKHLQW PLWIKOHQG ]X YLEULHUHQ 6HKU EDOG IKOW VLFK GHU JHVDPWH 2UJD QLVPXVVR DQ DOVVHLHUHLQXQHUVFK|SIOLFKHU .UDIWVSHLFKHU 'LH (PSILQGXQJ XQGHVPXHLQH(PSILQGXQJ VHLQ LVWQLFKWPL ]XYHUVWHKHQ 2EJOHLFKGLHVHhEXQJ VRHLQIDFK LVWVROOWHPDQ VLHQLFKWJHULQJ VFKlW]HQ 'DV JHVDPWH +HLOV\VWHP EHUXKW DXI GHU 0HLVWHUXQJ GLHVHU HLQIDFKHQ 7HFKQLN 0HLVWHUQ 6LH VLHDOVR]XHUVW (QWVSDQQHQ 6LH VLFK ZLUNOLFK Y|OOLJ XQG EHJLQQHQ 6LH GDQQ PLW GHP UK\WKPL VFKHQ$WPHQ 0HQWDOHXQGVSLULWXHOOH=HQWUHQ
,FK ZHUGH PLFK QXQ HLQHU JUXQGOHJHQGHQ XQG KRFKZLFKWLJHQ ,GHH ]XZHQGHQ ,Q:DKUKHLWOLHJWGLH8QIlKLJNHLW GLH%HGHXWXQJ GLHVHU ,GHH ]X EHJUHLIHQ GHP KlXILJ EHREDFKWHWHQ 9HUVDJHQ YLHOHU 6\ VWHPH ]XU )|UGHUXQJ GHU JHLVWLJHQ (QWZLFNOXQJ XQG GHV VSLULWX HOOHQ +HLOHQV ]XJUXQGH 6R ZLH HV LP SK\VLVFKHQ .|USHU VSH]LHOOH 2UJDQH ]XU $XVIKUXQJVSH]LHOOHU )XQNWLRQHQ JLEW VRKDWDXFKGHU PHQWDOH XQG VSLULWXHOOH $QWHLO GHV 0HQVFKHQ HQWVSUHFKHQGH =HQWUHQXQG 2UJDQH *HQDXVR ZLH GLH=lKQH GHU0DJHQ GLH/HEHU XQG GLH (LQJHZHLGH 2UJDQH VLQG GLH YRQGHU 1DWXUIU GLH 9HU GDXXQJ XQG $XIQDKPH YRQ 1DKUXQJ YRUJHVHKHQ VLQG VR JLEW HV DXFK LQ GHQ DQGHUHQ %HUHLFKHQ GHU PHQVFKOLFKHQ ([LVWHQ] lKQ OLFKH=HQWUHQ 'HU 0XQG QLPPW GLH 1DKUXQJ DXI 'LH 9HUGDXXQJ ILQGHW LP 0DJHQ XQG LP 'QQGDUP VWDWW $XHUGHP JLEW HV HLQH 9RUULFK WXQJ ]XU $XVVFKHLGXQJ YRQ $EIDOOSURGXNWHQ GHV 6WRIIZHFKVHOV ,Q GHU SV\FKLVFKHQ 1DWXU GHV 0HQVFKHQ JLEW HV =HQWUHQ IU GLH $XIQDKPH VSLULWXHOOHU .UDIW DXV GHQ 8QLYHUVXP $QGHUH =HQWUHQ HUP|JOLFKHQ GLH 9HUWHLOXQJ MHQHU .UDIW 'LH G\QDPLVFKH (QHUJLH XQG0DFKW GLHYRQDXHQLQGHQ0HQVFKHQHLQGULQJW LVWLQLKUHU 9LEUDWLRQVJHVFKZLQGLJNHLW QLFKW HLQKHLWOLFK 6LH NDQQ VR]XVDJHQ HLQH ]X KRKH 6SDQQXQJ KDEHQ ZHOFKHU GHU 0HQVFK QLFKW VWDQG ]XKDOWHQ YHUPDJ 'HVKDOE JLEW HV LQ VHLQHP ,QQHUHQ HLQHQ EH VWLPPWHQ SV\FKLVFKHQ 0HFKDQLVPXV PLWWHOV GHVVHQ EHOLHELJH NRVPLVFKH(QHUJLHVWU|PHDVVLPLOLHUWXQG©YHUGDXWªZHUGHQN|QQHQ QDFKGHPLKUH6SDQQXQJDXIHLQIUGHQ0HQVFKHQYHUWUlJ
OLFKHV 0D KHUXQWHUWUDQVIRUPLHUW ZRUGHQ LVW 'HU 3UR]H LQ GHVVHQ 9HUODXI PDQ VLFKGLHVHV SV\FKLVFKHQ 0HFKDQLVPXV EHZXW ZLUG XQG GLH (QHUJLHQ ]X QXW]HQ OHUQW GLH HU HU]HXJW LVW HLQ LQWHJUDOHU%HVWDQGWHLOGHVKLHUEHVFKULHEHQHQ+HLOV\VWHPV ,FKELQGDYRQEHU]HXJW GD VLFK *HEHW XQG .RQWHPSODWLRQ XQEHZXW GLHVHU LQQHUHQ =HQWUHQ EHGLHQHQ 'HVKDOE HUVFKHLQW HV PLU UDWVDP XQG ZHVHQWOLFK ZLUNVDPHU GLHVH VSLULWXHOOH .UDIW XQG GLH =HQWUHQ GXUFKGLHVLHIOLHW EHZXW IUXQVHUH =ZHFNH]X QXW]HQ :LU ZROOHQ MHQH =HQWUHQ ]XQlFKVW DOV SV\FKRVSLULWXHOOH 2UJDQHEH]HLFKQHQ 9RQGLHVHQJLEWHVIQIZLFKWLJH'DZLULKQHQ 1DPHQ JHEHQ PVVHQ GHQQGHUPHQVFKOLFKH *HLVWOLHEWHVQXQ HLQPDO 'LQJH ]X NODVVLIL]LHUHQ XQG ]X RUGQHQ P|FKWH LFK LKQHQ P|JOLFKVW XQYHUELQGOLFKH XQG P|JOLFKVW XQYHUIlQJOLFKH 1DPHQ JHEHQ XP ]X YHUKLQGHUQ GD DXI GLHVHQ %H]HLFKQXQJHQ HLQ 6\ VWHP YRQ IDOVFKHQ $QVLFKWHQ HUULFKWHW ZHUGHQ NDQQ 'HU %H TXHPOLFKNHLW KDOEHU ZHUGHQ ZLU GDV HUVWH =HQWUXP DOV *HLVW]HQ WUXP GDV ]ZHLWH DOV /XIW]HQWUXP XQG GLH IROJHQGHQ DOV )HXHU :DVVHU XQG(UG]HQWUXPEH]HLFKQHQ =XU 9HUDQVFKDXOLFKXQJ GLHVHV .RQ]HSWV LVW DXI GHUIROJHQGHQ 6HLWH HLQ HLQIDFKHV 'LDJUDPP DEJHELOGHW GDV GLH 3RVLWLRQ GHU =HQWUHQ LP PHQVFKOLFKHQ .|USHU ]HLJW ,FK KRIIH GD DXFK QLFKW IU HLQHQ HLQ]LJHQ $XJHQEOLFN GHU 9HUGDFKW DXINRPPW GD GLHVH =HQWUHQ LKUHU 1DWXU XQG 3RVLWLRQ QDFK SK\VLVFK VLQG DOOHUGLQJV JLEW HV WDWVlFKOLFK JHZLVVH |UWOLFKH 3DUDOOHOHQ ]XGLHVHQ =HQWUHQ LP 'UVHQV\VWHP 6LH H[LVWLHUHQ DXI HLQHU VXEWLOHUHQ RGHU SV\ FKLVFKHQ (EHQH GHU PHQVFKOLFKHQ 1DWXU :LU N|QQWHQ VRJDU QRFK ZHLWHU JHKHQ XQG VLH OHGLJOLFK DOV 6\PEROH DQVHKHQ GLH GLH :LUNOLFKNHLW ZLGHUVSLHJHOQ DOV JURDUWLJH HUO|VHQGH XQG UHWWHQGH 6\PEROH 8QWHU JHZLVVHQ %HGLQJXQJHQ N|QQHQ ZLU XQV LKUHU DXI lKQOLFKH :HLVH EHZXW ZHUGHQ ZLH ZLU XQV GHU YHUVFKLHGHQHQ 2UJDQH XQVHUHV SK\VLVFKHQ .|USHUV EHZXW JHZRUGHQ VLQG :LU VDJHQ RIW GD GHU 9HUVWDQG LP .RSI DQJHVLHGHOW LVW XQG ZLU EH ]LHKHQGLH(PRWLRQHQ DXIGDV+HU]XQGGHQ,QVWLQNWDXIGHQ%DXFK (EHQVR JLEW HV HLQH QDWUOLFKH (QWVSUHFKXQJ ]ZLVFKHQ GHQ IQI =HQWUHQ XQG GHQ YHUVFKLHGHQHQ %HUHLFKHQ GHV PHQVFKOLFKHQ .|USHUV
'LHIQI=HQWUHQ
'HQNHQ)DUEHXQG.ODQJ
(V LVW XQXPVW|OLFK IU GLHVHV 6\VWHP GD ZLU XQV GLHVHU =HQWUHQ DXI GUHL $UWHQ EHZXW ZHUGHQ N|QQHQ XP VLH DXV LKUHP 6FKODI ]XVWDQG ]XHUZHFNHQ DXIGDVLHLQXQVHUHP,QQHUHQLKUH)XQNWLRQ HUIOOHQ'LHVHGUHL0LWWHOVLQG'HQNHQ)DUEHXQG.ODQJ 'HU*HLVWPXVLFKQDFKHLQDQGHUDXIGLHDQJHQRPPHQH3RVLWLRQ GLHVHU=HQWUHQNRQ]HQWULHUHQ'DQQPVVHQEHVWLPPWH1DPHQGLH EHVWLPPWH 6FKZLQJXQJVIUHTXHQ]HQ YHUN|USHUQ LQWRQLHUW XQG YLEULHUW ZHUGHQ 6FKOLHOLFK PX MHGHV =HQWUXP PLW HLQHU EHVWLPPWHQ )DUEH XQG *HVWDOW YLVXDOLVLHUW ZHUGHQ 'XUFK .RPELQDWLRQ GLHVHU GUHL 0HWKRGHQ NDQQ PDQ GLH =HQWUHQ DOO PlKOLFK DXV LKUHP /DWHQ]]XVWDQG DXIZHFNHQ 6LH ZHUGHQ GD]X DQJHUHJW GLH LKUHU MHZHLOLJHQ 1DWXU HQWVSUHFKHQGH )XQNWLRQ ]X HUIOOHQXQG HLQHQ 6WURP VWDUNHU VSLULWXHOOHU (QHUJLH XQG.UDIWLQ .|USHU XQG *HLVW ]X HUJLHHQ :HQQ VLH LKUH )XQNWLRQ VFKOLHOLFK VWl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lUH
=XQlFKVW PVVHQ 6LH VLFKGLH3RVLWLRQGHU=HQWUHQ PHUNHQ VRZLH GDV 'LDJUDPP 6VLH ]HLJW :lKUHQG 6LHVLHDNWLYLHUHQ VROOWHQ 6LH HQWZHGHU DXIUHFKW VLW]HQRGHU LQ HQWVSDQQWHP =XVWDQG IODFK DXI GHP 5FNHQ OLHJHQ 'LH +lQGH N|QQHQ JHIDOWHW DXI GHQ 2EHU VFKHQNHOQ UXKHQ PDQ NDQQ VLH DXFK PLW YHUVFKUlQNWHQ )LQJHUQ ORFNHU XQWHUKDOE GHV 6RODUSOH[XV UXKHQ ODVVHQ 1XQ EHUXKLJHQ 6LH ,KUHQ*HLVWXQGDWPHQDQVFKOLHHQGPHKUHUH0LQXWHQODQJ
UK\WKPLVFK ELV 6LH EHU GHP =ZHUFKIHOO HLQ OHLFKWHV .ULEEHOQ YHUVSUHQ ,PDJLQLHUHQ 6LH GDQQ EHU GHP 6FKHLWHO ,KUHV .RSIHV HLQHQ %DOO RGHU HLQH .XJHO DXV VWUDKOHQG ZHLHP /LFKW =ZLQJHQ 6LH DEHU NHLQHVIDOOV ,KUH ,PDJLQDWLRQ DQ GLHVHU 6WHOOH GLH /LFKWNXJHO ]X YLVXDOLVLHUHQ =ZDQJ ZUGH QXU ]XU (QWVWHKXQJ HLQHU QHXURPXV NXOlUHQ 9HUVSDQQXQJ IKUHQ XQG GDV Zl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|UWOLFK ,&+ %,1 XQG GLHVHV=HQWUXPUHSUlVHQWLHUWGDV,&+%,1%HZXWVHLQLQXQV *HLVWLJHV $XVULFKWHQ GHU 9LEUDWLRQ DXI GLHVHV =HQWUXP HUZHFNW GDV =HQWUXP ]X G\QDPLVFKHU $NWLYLWlW 6REDOG HV DQIlQJW ]X YL EULHUHQXQG]XURWLHUHQVSUWPDQZLH/LFKWXQG(QHUJLHDEZlUWVLQ GLH3HUV|QOLFKNHLWVWU|PHQ8QJHKHXUH/DGXQJHQVSLULWXHOOHU.UDIW JHODQJHQ LQV *HKLUQ XQG GHU JDQ]H .|USHU ZLUG YRQ 9LWDOLWlW XQG /HEHQ GXUFKIOXWHW 6RJDU )LQJHUVSLW]HQ XQG =HKHQ UHDJLHUHQ DXI GDV(UZDFKHQGHU.URQVSKlUHGXUFKHLQHDQIlQJOLFKHIHLQHOHLFKW VWHFKHQGH (PSILQGXQJ 'HU *RWWHVQDPH VROOWH ZlKUHQG GHU HUVWHQ :RFKHQ PLW OHLVHU DEHU K|UEDUHU XQG VRQRUHU 6WLPPH LQWRQLHUW ZHUGHQ 1DFK (UUHLFKHQ HLQHU JHZLVVHQ 3UD[LV NDQQ PDQ GLH 9LEUDWLRQDXFKVWLOOEHQZREHLGHU*RWWHVQDPHLPDJLQLHUWXQGLQ GDV REHUVWH =HQWUXP SURML]LHUW ZLUG %HL KlXILJHP $EVFKZHLIHQ GHV *HLVWHV NDQQ PDQ GXUFK PHKUIDFKH :LHGHUKROXQJ GHU 9LEUDWLRQGLH.RQ]HQWUDWLRQVWlUNHQ 'DV/XIW]HQWUXP
1DFKGHP GHU *HLVW HLQLJH 0LQXWHQ LP REHUVWHQ =HQWUXP JHUXKW KDW XQG ]X JOKHQ XQG ]X IOLPPHUQ VFKHLQWLPDJLQLHUHQ 6LH GD HLQ ZHLHU 6WUDKO DXV GHP .URQ]HQWUXP DXVWULWW 'RUW HUZHLWHUW HU VLFK]XHLQHP]ZHLWHQ/LFKWEDOOGHUHLQHQJURHQ7HLOGHV*H
VLFKWV HLQVFKOLHOLFK GHU $XJHQEUDXHQ XPIDW :HQQ PDQ GHQ .HKONRSI DOV GDV =HQWUXP GHU .XJHO LPDJLQLHUW LVW GHU $EVWDQG YRQGRUW]XU+DOVZLUEHOVlXOHDXIGHU5FNVHLWHGHV+DOVHVXQJHIlKU GHU 5DGLXV GHU .XJHO 1DWUOLFK LVW GLHV EHL MHGHP 0HQVFKHQ DQGHUV ,P )DOOH GLHVHU .XJHO GLH ZLU /XIW]HQWUXP QHQQHQ VROOWH HLQH lKQOLFKH 7HFKQLN EHQXW]W ZHUGHQ ZLH EHLP .URQ]HQWUXP ,PDJLQLHUHQ 6LH DXFK GLHVHV =HQWUXP LQWHQVLY DOV HLQH IXQNHOQGH .XJHO DXV ZHLHP /LFKW GLH DXV LKUHP ,QQHUHQ VWUDKOW XQG OHXFKWHW ,Q GLHVHP )DOO VROO GHU *RWWHVQDPH IHKRYD (ORKLP YL EULHUWZHUGHQ ,FK P|FKWH DQ GLHVHU 6WHOOH HLQ SDDU :RUWH EHU GLH YHUZHQGHWHQ 1DPHQ VDJHQ (V KDQGHOW VLFK GDEHL XP 1DPHQ GLH DQ YHUVFKLH GHQHQ 6WHOOHQ GHV $OWHQ 7HVWDPHQWV *RWW ]XJHVFKULHEHQ ZHUGHQ 'LH 9LHO]DKO XQG GLH 8QWHUVFKLHGOLFKNHLW GLHVHU 1DPHQ VWHKW DQJHEOLFK PLW GHU 8QWHUVFKLHGOLFKNHLW XQG 9LHOIDOW GHU J|WWOLFKHQ (LJHQVFKDIWHQ LQ =XVDPPHQKDQJ :HQQ *RWW DXI HLQH EHVWLPPWH :HLVHKDQGHOWVR ZLUG (U YRQ GHQ $XWRUHQ GHU%LEHOMHZHLOVPLW HLQHP EHVWLPPWHQ 1DPHQ EH]HLFKQHW :HQQ HU HWZDV DQGHUHV WXW ZLUG HLQ DQGHUHU 1DPH GHU LQ GLHVHP )DOO VHLQHP +DQGHOQ PHKU HQWVSULFKWEHQXW]W'DV6\VWHPGDVLFKKLHUEHVFKUHLEHZXU]HOWLQ GHU 7UDGLWLRQ GHU KHEUlLVFKHQ 0\VWLN 'LH %HJUQGHU GLHVHV 6\VWHPV ZDUHQ *HQLHV XQG 0HQVFKHQ PLW KRKHP UHOLJL|VHP (LIHU 'HVKDOE VROOWH HV XQV QLFKW YHUZXQGHUQ GD VLH LQ GLHVHV ZLV VHQVFKDIWOLFKH SV\FKRORJLVFKH 6\VWHP HLQH UHOLJL|VH 7HQGHQ] SURML]LHUWHQ ,FK P|FKWH MHGRFK KLHUPLW NODUVWHOOHQ GD IU PLFK ZHQQ LFK GLHVH ELEOLVFKHQ *RWWHVQDPHQ IU XQVHUH KHXWLJHQ =ZHFNH YHUZHQGH NHLQHVZHJV HLQH UHOLJL|VH %HGHXWXQJ PLW VFKZLQJW -HGHU NDQQ VLH EHQXW]HQ RKQH DXFK QXU LP JHULQJVWHQ GLH IUKHU GDPLW YHUEXQGHQHQ UHOLJL|VHQ hEHU]HXJXQJHQ ]X DN ]HSWLHUHQ JDQ] JOHLFK RE HU -XGH &KULVW +LQGX %XGGKLVW RGHU $WKHLVW LVW (V KDQGHOW VLFK XP HLQ UHLQ HPSLULVFKHV 6\VWHP GDV DXFK GDQQ VHLQH :LUNXQJ WXQ NDQQ ZHQQ GHU hEHQGH DQGHUHQ *ODXEHQV HLQ 6NHSWLNHU RGHU HLQ $WKHLVW LVW :LU N|QQHQ GLHVH KHLOLJHQ1DPHQKHXWHLQHLQHPY|OOLJDQGHUHQ SUDNWLVFKHQ/LFKW VHKHQ 6LH VLQG 6FKOVVHO ]X YHUVFKLHGHQHQ %HVWDQGWHLOHQ GHU PHQVFKOLFKHQ 1DWXU 7RUH ]X YLHOHQ (EHQHQ MHQHV 7HLOV GHU 3V\FKH GHVVHQ ZLU XQV QRUPDOHUZHLVH QLFKW EHZXW VLQG 6LH UHSUlVHQ WLHUHQ 6FKZLQJXQJVIUHTXHQ]HQ RGHU V\PEROLVFKH 6LJQDWXUHQ GHU SV\FKRSK\VLVFKHQ=HQWUHQGLHZLUEHVFKUHLEHQ,KUH9HUZHQ
GQJ DOV *UXQGODJH IU GDV 9LEULHUHQ HUZHFNW GLHMHQLJHQ =HQWUHQ ]XU$NWLYLWlWPLWGHQHQVLFKLKUHMHZHLOLJH6FKZLQJXQJVIUHTXHQ]LQ HLQHU V\PSDWKLVFKHQ %H]LHKXQJ EHILQGHW 6LH HUP|JOLFKHQ HV XQVHUHP %HZXWVHLQ GLH YHUVFKLHGHQHQ (EHQHQ GHU XQEHZXWHQ VSLULWXHOOHQ 6HLWH XQVHUHU 3HUV|QOLFKNHLW EHZXW ]X HUNHQQHQ 'HVKDOE LQWHUHVVLHUW XQV GLH UHOLJL|VH %HGHXWXQJ GLHVHU 1DPHQ KLHU QLFKW (EHQVR XQZLFKWLJ LVW IU XQV DXFK LKUH Z|UWOLFKH h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lUWVLQ,KUHQ.|USHUIKUW 'DV)HXHU]HQWUXP
'HU6WUDKO IKUWDEZlUWVELVLQ GHQ %HUHLFKGHV6RODUSOH[XVGLUHNW XQWHU GHP %UXVWEHLQ ZR HU VLFK ]X HLQHU GULWWHQ .XJHO HUZHLWHUW 'RUW EHILQGHW VLFK GDV )HXHU]HQWUXP 'LH =XRUGQXQJ GHV (OH PHQWV )HXHU ]X GLHVHP =HQWUXP LVW EHVRQGHUV SDVVHQG GHQQ GDV +HU] ZLUG VWHWV PLW GHU HPRWLRQDOHQ 1DWXU LQ 9HUELQGXQJ JH EUDFKWPLW/LHEH XQGGHQK|KHUHQ*HIKOHQ:LHRIWVSUHFKHQZLU YRQ EUHQQHQGHU /HLGHQVFKDIW YRQ GHU )ODPPH GHU /LHEH XQG lKQOLFKHP 'HU 'XUFKPHVVHU GLHVHU .XJHO GLH GDV +HU] XPJLEW VROOWHVRJURVHLQGDGLH.XJHOYRQGHU9RUGHUVHLWHGHV.|USHUV ELV]XU 5FNVHLWHUHLFKW,QGLHVHP)DOO VROOGHU1DPH-HKRYD(ORDK YH'DDV JHVSURFKHQ -HKRYDK (KORK YH'DDV YLEULHUW ZHUGHQ $FKWHQ 6LH GDUDXI GD GLH 9LEUDWLRQ LQQHUKDOE GHU LPDJLQLHUWHQ .XJHO VWDUN LVW 'DUDXIKLQ LVW VRJOHLFK HLQH YRQ GLHVHP =HQWUXP DXVJHKHQGH :lUPHVWUDKOXQJ ]X VSUHQ GLH VDQIW DOOH .|USHUWHLOH XQG 2UJDQH REHUKDOE GHV =HQWUXPV VWLPXOLHUW (LQLJH GLH GLHVH 0HWKRGH JHEW KDEHQ KDEHQ VLFK GDUEHU EHNODJW GD GHU GLHVHP =HQWUXP ]XJHRUGQHWH *RWWHVQDPH XQYHUKlOWQLVPlLJ ODQJ XQG VFKZLHULJDXV]XVSUHFKHQVHL1DFKHLQLJHQ([SHULPHQWHQKDEHLFK
GHVKDOE DQ GLH 6WHOOH GHV REHQJHQDQQWHQ KHEUlLVFKHQ 1DPHQV GHQ JQRVWLVFKHQ 1DPHQ ,$2 JHVHW]W %HLGH ZHUGHQ DXI GHP /HEHQV EDXP GHU .DEEDOD GHU JOHLFKHQ 6HSKLUDK 7LSKDUHWK ]XJHRUGQHW XQG VLQG GHVKDOE JOHLFKZHUWLJ ,FK KDEH IHVWJHVWHOOW GD GHU JQR VWLVFKH 1DPH ,$2 HEHQVR ZLUNVDP LVW ZLH GHU KHEUlLVFKH 1DPH XQG ZHQQ LFK VHOEVW GLHVH 0HGLWDWLRQ EH EHQXW]H LFK VWHWV GHQ JQRVWLVFKHQ1DPHQ ,$2 VROOWH OLLKDDDKRRRK JHVSURFKHQ ZHUGHQ ODQJVDP XQG NUDIWYROO 7DWVlFKOLFK LVW GLHVHU 1DPH OHLFKWHU DXV]XVSUHFKHQ DOV MHGHUDQGHUHXQGGLH9LEUDWLRQGLHHUHU]HXJWLVWNODUXQGVWDUN 'D GHU *HLVW LP .|USHU XQG GXUFK GHQ .|USHU ZLUNW ZHUGHQ GLH PHQWDOHQ XQG HPRWLRQDOHQ )lKLJNHLWHQ GLH VLFK DXFK LQ GHQ JDQ]HQ .|USHU KLQHLQ HUVWUHFNHQ HEHQIDOOV GXUFK GHQ G\QDPL VFKHQ )OX GHU (QHUJLH DXV GHQ =HQWUHQ VWLPXOLHUW 'LH VWDUUH XQG IHVWH %DUULHUH GLH ]ZLVFKHQ %HZXWVHLQ XQG 8QEHZXWHP EHVWHKW HLQH 3DQ]HUXQJ GLH XQVHUHQ IUHLHQ $XVGUXFN XQG XQVHUH VSLUL WXHOOH (QWZLFNOXQJ EHKLQGHUW O|VW VLFK VR DOOPlKOLFK DXI ,P /DXIHGHU=HLWXQGEHLVWHWLJHPhEHQNDQQVLHY|OOLJYHUVFKZLQGHQ ZRGXUFK GLH 3HUV|QOLFKNHLW DOOPlKOLFK ]XU ,QWHJUDWLRQ XQG *DQ]KHLWJHODQJW6RJHVXQGHWDOOPlKOLFKMHGH)XQNWLRQGHV*HLVWHV XQGGHV.|USHUVXQGGDXHUKDIWHV*OFNLVWGLH)ROJH 'DV:DVVHU]HQWUXP
)ROJHQ 6LH GHP 6WUDKO ZHLWHU DEZlUWV YRP 6RODUSOH[XV LQ GHQ %HFNHQEHUHLFK GHP %HUHLFK GHU )RUWSIODQ]XQJVRUJDQH $XFK KLHU YLVXDOLVLHUHQ 6LH HLQH VWUDKOHQGH .XJHO GLH XQJHIlKU VR JUR LVW ZLH GLH GDUEHUOLHJHQGH $XFK LQ GLHVHP )DOO ZLUG HLQ 1DPH LQWRQLHUW GHU LQ GHQ =HOOHQ XQG 0ROHNOHQ GHV *HZHEHV GLHVHU .|USHUUHJLRQ HLQH VFKQHOOH 9LEUDWLRQ HU]HXJHQ VROO6KDGGDL (O &KDL ZLUG JH VSURFKHQ6KDGL(O&KLGHQNHQ 6LHGDUDQ GDGDV&KJXWWXUDO ZLH EHL ©/RFKª JHVSURFKHQ ZLUG *HEHQ 6LH ,KUHP *HLVW *HOHJHQKHLW HLQLJH 0LQXWHQ ODQJ GLH ZHLH VWUDKOHQGH .XJHO GHV :DVVHU]HQ WUXPV ]X YLVXDOLVLHUHQ :HQQ GHU *HLVW YRQ GLHVHP 6WUDKOHQ DE VFKZHLIW ZDV ]X $QIDQJ VLFKHUOLFK KlXILJ SDVVLHUHQ ZLUG GDQQ JHOHLWHQ 6LH LKQ GXUFK ZLHGHUKROWH PDFKWYROOH 9LEUDWLRQ GHV *RWWHVQDPHQV VDQIW ZLHGHU ]X GHU 9LVXDOLVDWLRQ ]XUFN 1XQ P|JHQHLQLJH/HVHUEHIUFKWHQGLHVN|QQWHXQQ|WLJHUZHL
VH VH[XHOOH *HIKOH XQG (PRWLRQHQ ZHFNHQ RGHU VWLPXOLHUHQ 'D]XLVW]XVDJHQGDGLHVEHL0HQVFKHQLQGHQHQHLQVH[XHOOHU .RQIOLNW WREW GXUFKDXV GHU )DOO VHLQ NDQQ 'HQQRFK LVW GLH $QJVW XQEHJUQGHW 'HQQ GLH .RQWHPSODWLRQ GHV :DVVHU]HQWUXPV DOV HLQHU .XJHO YRQ ZHLHP /LFKW GLH GXUFK HLQHQ 6WUDKO PLW GHQ K|KHUHQVSLULWXHOOHQ=HQWUHQYHUEXQGHQLVWZLUNWHKHUEHUXKLJHQG DXI GDV 6H[XDO]HQWUXP $XHUGHP NDQQ HLQH HYHQWXHOO DXIWUHWHQGH VH[XHOOH(UUHJXQJDEJHEDXWZHUGHQXQG]ZDUQLFKWGXUFKLJQRUDQWH XQG NXU]VLFKWLJH 8QWHUGUFNXQJ VRQGHUQ GXUFK =LUNXODWLRQ GLHVHU (QHUJLHQ GXUFK GHQ JDQ]HQ .|USHU $XI GLHVH :HLVH NDQQ HLQ JUQGOLFKHUXQGZHLWUHLFKHQGHU3UR]HGHU6XEOLPDWLRQHLQJHOHLWHW ZHUGHQ GHU LQ VHLQHU :LUNXQJ IDVW DOFKLPLVWLVFK LVW 'LHV VROOWH QLFKW DOV /HJLWLPDWLRQ GDIU YHUVWDQGHQ ZHUGHQ GHU VH[XHOOHQ 3UREOHPDWLNJHQHUHOODXV]XZHLFKHQ 'DV(UG]HQWUXP
$XFK XP GDV OHW]WH YHUEOLHEHQH =HQWUXP ]X HUUHLFKHQ ZLUG ZLHGHUXP HLQ DEVWHLJHQGHU /LFKWVWUDKO YLVXDOLVLHUW GHU YRP )RUWSIODQ]XQJVEHUHLFK DXVJHKW XQG GXUFK GLH %HLQH ELV LQ GLH )H UHLFKW'RUWDQJHNRPPHQGHKQWHUVLFKYRQHLQHP3XQNWXQJHIlKU XQWHUKDOEGHU.Q|FKHO]XHLQHUIQIWHQ.XJHODXV'LHVHV=HQWUXP EH]HLFKQHQZLUDOV(UG]HQWUXP/DVVHQ6LH,KUHQ*HLVWDXFKGRUW ZLH ]XYRU HLQH VWUDKOHQGH XQG IOLPPHUQGH .XJHO YRQ JOHLFKHU *U|H ZLH GLH EULJHQ YLHU YLVXDOLVLHUHQ 9LEULHUHQ 6LH GHQ 1DPHQ $GRQDL KD$UHW] 1DFKGHP 6LH HLQLJH 0LQXWHQ GDPLW ]XJHEUDFKW KDEHQ GLHVHV =HQWUXP GXUFK IL[LHUWHV XQG VWHWLJHV 'HQNHQ XQG GXUFK ZLHGHUKROWH 9LEUDWLRQ GHV DQJHJHEHQHQ 1DPHQV DXI]XZHFNHQOHJHQ6LHHLQHNXU]H3DXVHHLQ 9HUVXFKHQ 6LH DQVFKOLHHQG GHQ JHVDPWHQ 6WUDKO YRQ VLOEULJHP /LFKWNODU]XYLVXDOLVLHUHQYHU]LHUWPLWIQISUlFKWLJHQ'LDPDQWHQ YRQ XQYHUJOHLFKOLFKHP *ODQ] GLH YRP 6FKHLWHO ELV ]X GHQ )XVRKOHQ YHUWHLOW VLQG (LQLJH 0LQXWHQ JHQJHQ XP GLHVHV .RQ]HSW :LUNOLFKNHLW ZHUGHQ ]X ODVVHQ XQG HLQH OHEKDIWH 5HDOL VDWLRQ GHU PlFKWLJHQ .UlIWH ]XVWDQGH ]X EULQJHQ GLH GLH 3HUV|Q OLFKNHLWEHHLQIOXVVHQXQGGLHVFKOLHOLFKQDFKLKUHU7UDQVIRUPDWLRQ XQG LKUHU 5HLVH GXUFK GLH LPDJLQDWLYHQ =HQWUHQ LQ GDV SV\FKR SK\VLVFKH6\VWHPDVVLPLOLHUWZHUGHQ'LH.RPELQDWLRQYRQ
UK\WKPLVFKHP $WPHQ PLW ZLOOHQVJHOHQNWHU 9LVXDOLVLHUXQJ GHU DEVWHLJHQGHQ .UDIW GXUFK GHQ /LFKWVWUDKO GHU 0LWWOHUHQ 6lXOH VR ZLUG GLHVH .HWWH YRQ =HQWUHQ DXFK JHQDQQW HU]HXJW GLH EHL ZHLWHPEHVWHQ(UJHEQLVVH )DUEHQWVSUHFKXQJHQ
:HQQ GHU hEHQGH PLW GHP 9LVXDOLVLHUHQ GLHVHU =HQWUHQ HWZDV YHUWUDXWHU JHZRUGHQ LVW NDQQ GLH hEXQJ HLQ ZHQLJ HUZHLWHUW ZHUGHQ ,FK KDEH EHUHLWV DQ IUKHUHU 6WHOOH EHPHUNW GD )DUEH EHL GLHVHU 7HFKQLN HLQH VHKU ZLFKWLJH 5ROOH VSLHOW -HGHP =HQWUXP LVW HLQH EHVWLPPWH )DUEH ]XJHRUGQHW 'HQQRFK HPSILHKOW HV VLFK ]XQlFKVW HLQPDO EHU OlQJHUH =HLW NHLQH DQGHUH )DUEH DOV ZHL ]X EHQXW]HQ 'HP *HLVW RGHU .URQ]HQWUXP ZLUG GLH )DUEH :HL ]XJHRUGQHW 'LHV LVW GLH )DUEH GHU 5HLQKHLW GHV *HLVWHV GHU *RWWKHLW XVZ 6LH UHSUlVHQWLHUW ZHQLJHU HLQH PHQVFKOLFKH (LJHQ VFKDIW DOV YLHOPHKU HLQ XQLYHUVHOOHV NRVPLVFKHV 3ULQ]LS GDV GLH JDQ]H 0HQVFKKHLW EHUVFKDWWHW :HQQ ZLU DXI GHP 6WUDKO DEZlUWV VWHLJHQ YHUlQGHUW VLFK GLH )DUEH 'HP /XIW RGHU .HKO]HQWUXP ZLUG GLH )DUEH /LOD ]XJHRUGQHW XQG GLHVH )DUEH UHSUlVHQWLHUW LQV EHVRQGHUH GLH PHQWDOHQ )lKLJNHLWHQ GDV PHQVFKOLFKH %HZXW VHLQ :DUXP GHP )HXHU]HQWUXP GLH )DUEH 5RW ]XJHRUGQHW ZLUG EUDXFKW ZRKO QLFKW HUNOlUW ]X ZHUGHQ %ODX LVW GLH )DUEH GHV :DVVHU]HQWUXPV VRZLH DXFK GHV )ULHGHQV GHU 5XKH XQG GHV *OHLFKPXWV ZRULQ VLFK XQJHKHXUH 6WlUNH XQG .UDIW YHUELUJW 0LW DQGHUHQ :RUWHQ LVW GLHV GHU )ULHGH GHU 6WlUNH XQG GHU 0DFKW QLFKW GHU )ULHGH GHU 7UlJKHLW GHU EORHQ 6FKZlFKH 'HP XQWHUVWHQ =HQWUXP GHP (UG]HQWUXP ZLUG GLH )DUEH 5RVWEUDXQ ]XJHRUGQHW GLH VDWWH )DUEH GHU (UGH VHOEVW GLH *UXQGODJH DXI GHU ZLU VWHKHQ $XV GLHVHU VHKU NXU]HQ XQG EQGLJHQ =XVDPPHQIDVVXQJ OlW VLFK HUVHKHQ GD MHGHV =HQWUXP HLQH $UW $IILQLWlW RGHU 6\PSDWKLH ]X HLQHP DQGHUHQ %HUHLFK XQVHUHV VSLULWXHOOHQ 6HLQV KDW (LQ =HQWUXP LVW EHVRQGHUV PLW GHQ (PRWLRQHQ XQG *HIKOHQ YHU EXQGHQ ZlKUHQG HLQ DQGHUHV HLQH HLQGHXWLJ LQWHOOHNWXHOOH )lU EXQJ DXIZHLVW 'DUDXV IROJW ORJLVFK XQG GLH (UIDKUXQJ KDW JH]HLJW GDGLHVWDWVlFKOLFK]XWULIIWGDGLHJOHLFKPlLJH$NWLYLWlWXQG
6WLPXODWLRQ GHU IQI =HQWUHQ HLQH V\PSDWKLVFKH 5HDNWLRQ LQ MH GHP 7HLO GHU PHQVFKOLFKHQ 1DWXU KHUYRUUXIW 8QG ZHQQ HLQH .UDQNKHLW VLFK LP .|USHU PDQLIHVWLHUW GLH XQPLWWHOEDU DXI HLQHU SV\FKLVFKHQ 6FKZLHULJNHLW RGHU (UNUDQNXQJ EDVLHUW PX PDQ GDYRQ DXVJHKHQ GD GLH $NWLYLWlW GHV HQWVSUHFKHQGHQ =HQWUXPV EHHLQWUlFKWLJW LVW 6WLPXOLHUW PDQ GDQQ GLHVHV =HQWUXP GXUFK .ODQJ 'HQNHQ XQG )DUEH VR ZLUG DXFK GDV HQWVSUHFKHQGH SV\ FKLVFKH 3ULQ]LS VWLPXOLHUW ZRGXUFK GDV 3UREOHP DXIJHO|VW ZLUG )UKHU RGHU VSlWHU ZLUG GDUDXIKLQ HLQH SK\VLVFKH 5HDNWLRQ HLQ WUHWHQ GLH ]XP 9HUVFKZLQGHQ GHU .UDQNKHLW XQG ]XP DQVFKOLH HQGHQ $XIEDX QHXHU =HOOHQ XQG QHXHQ *HZHEHV IKUW ZRPLW GLH *HVXQGKHLWZLHGHUKHUJHVWHOOWLVW
7HLO
:LU NRPPHQ QXQ ]XU QlFKVWHQ ZLFKWLJHQ 6WDWLRQ LQ GHU (QW ZLFNOXQJ GHU hEXQJ GHU 0LWWOHUHQ 6lXOH 1DFKGHP ZLU PLWWHOV GHU SV\FKRVSLULWXHOOHQ =HQWUHQ .UDIW XQG VSLULWXHOOH (QHUJLH LQ GDV 6\VWHP JHEUDFKW KDEHQ HUKHEW VLFK QXQ GLH )UDJH ZLH ZLU GLHVH (QHUJLH DP EHVWHQ QXW]HQ N|QQHQ ZLH ZLU VLH VR QXW]HQ N|QQHQ GD MHGH =HOOH MHGHV $WRP XQG MHGHV 2UJDQ GXUFK MHQHQ G\QDPL VFKHQ6WURPVWLPXOLHUWXQGYLWDOLVLHUWZLUG =XQlFKVW ULFKWHQ ZLU GHQ *HLVW ZLHGHU HPSRU DXI GLH/LFKWNXJHO GHV .URQ]HQWUXPV XQG YLVXDOLVLHUHQ GD VLFK GLHVHV =HQWUXP LQ HLQHP =XVWDQG OHEKDIWHU $NWLYLWlW EHILQGHW 'DV =HQWUXP GUHKW VLFK VFKQHOO DEVRUELHUW VSLULWXHOOH (QHUJLH DXV GHU 8PJHEXQJ XQG WUDQVIRUPLHUW VLH VR GD VLH EHL MHGHU PHQVFKOLFKHQ $NWLYLWlW XQPLWWHOEDU JHQXW]W ZHUGHQ NDQQ6WHOOHQ 6LHVLFKQXQYRUGDGLH VR WUDQVIRUPLHUWH (QHUJLH ]XU OLQNHQ 6HLWH GHV .RSIHV DEZlUWV XQG GDQQ ZHLWHU DQ GHU OLQNHQ 6HLWH GHV 5XPSIHV XQG GHV OLQNHQ %HLQHV KLQDEIOLHW :lKUHQG GHU (QHUJLHVWURP DEZlUWV IOLHW VROOWH GHU hEHQGH ODQJVDP LQ HLQHP DQJHQHKPHQ 5K\WKPXV DXVDWPHQ :lKUHQG GHV DQVFKOLHHQGHQ ODQJVDPHQ (LQDWPHQV N|QQHQ 6LH VLFK YRUVWHOOHQ GD GHU /HEHQVVWURP YRQ GHU 6RKOH GHV OLQNHQ )XHV]XPUHFKWHQ)XIOLHWXQGGDQQDOOPlKOLFKDQGHUUHFKWHQ
.|USHUVHLWH HPSRUVWHLJW 6R NHKUW GHU 6WURP ]X VHLQHU 4XHOOH VHLQHP $XVJDQJVSXQNW ]XUFN GHP .URQ]HQWUXP GHP 8UVSUXQJ DOOHU (QHUJLHXQG 9LWDOLWlW GHV0HQVFKHQ $XIGLHVH:HLVHHQWVWHKW HLQ JHVFKORVVHQHU (QHUJLHVWURPNUHLV 1DWUOLFK VROO GLHVH =LUNX ODWLRQ LQQHUKDOE GHV .|USHUV YLVXDOLVLHUW ZHUGHQ QLFKW DOV DXHQ XP GLH 3HULSKHULH NUHLVHQG (V KDQGHOW VLFK VR]XVDJHQ HKHU XP HLQHLQQHUSV\FKLVFKHDOVXPHLQHUHLQSK\VLVFKH=LUNXODWLRQ :LHPDQGLH(QHUJLH]LUNXODWLRQDQUHJW
/DVVHQ 6LH GLH (QHUJLH VREDOG GHU *HLVW VLH IHVW YHUDQNHUW KDW HLQLJH 6HNXQGHQ ODQJ JOHLFKPlLJ ]XP 5K\WKPXV GHV $WPHQV ]LUNXOLHUHQ ELV VLH HWZD HLQ KDOEHV GXW]HQGPDO ZHQQ 6LH ZROOHQ DXFK |IWHU JHNUHLVW LVW $QVFKOLHHQG VROO GLH .UHLVEHZHJXQJ LQ HLQHU HWZDV YHUlQGHUWHQ 5LFKWXQJ ZLHGHUKROW ZHUGHQ 9LVXDOLVLHUHQ 6LH GHQ 6WURP GHU 9LWDOHQHUJLH DXVJHKHQG YRP .URQ]HQWUXP EHU GHP .RSI DEZlUWV EHU GDV *HVLFKW XQG GLH 9RUGHUVHLWH GHV .|USHUV 1DFKGHP GHU 6WURP XQWHU GHQ )XVRKOHQ KLQGXUFK ]XU 5FNVHLWHGHV.|USHUVJHIORVVHQLVWVWHLJWHUGRUWLQHLQHP]LHPOLFK EUHLWHQ*UWHOYLEULHUHQGHU(QHUJLHZLHGHUDXI$XFKGLHVPDOVROOWH GLH (QHUJLHEHZHJXQJ YRP JOHLFKPlLJHQ (LQ XQG $XVVWU|PHQ GHV $WHPV EHJOHLWHW ZHUGHQ XQG PDQ VROOWH GLH .UHLVEHZHJXQJ PLQGHVWHQVVHFKVPDOKLQWHUHLQDQGHUYROO]LHKHQ 'LHVH EHLGHQ %HZHJXQJHQ ZHUGHQ VLFK VR DXVZLUNHQ GD LQ GHU SK\VLVFKHQ )RUP XQG XP VLH KHUXP HLQ HLI|UPLJHV *HELOGH VFKQHOO ]ULNXOLHUHQGHU 6XEVWDQ] XQG .UDIW HQWVWHKW 'D GLH VSLULWXHOOH (QHUJLH GLH DXI GLHVH :HLVH DQJHUHJW ZLUG H[WUHP G\QDPLVFK XQG NLQHWLVFK LVW VWUDKOW VLH LQ MHGH 5LFKWXQJ DXV XQG YHUEUHLWHW VLFK LQ HUVWDXQOLFKHP 0DH 'LHVH 6WUDKOXQJ LVW HV GLH MHQH HLI|UPLJH 6SKlUH GHU (PSILQGXQJ IRUPW IlUEW XQG EHOHEW ZHOFKH VLFK QLFKW PLW GHU *HVWDOW RGHU GHQ $XVPDHQ GHV SK\VLVFKHQ .|USHUV GHFNW 1DFK DOOJHPHLQHU $QVLFKW XQG (UIDKUXQJ XPJLEW GLHVH OHXFKWHQGH XQG PDJQHWLVFKH 6SKlUH GHQ SK\VLVFKHQ .|USHU XQJHIlKU ELV ]XU (QWIHUQXQJ HLQHV DXVJHVWUHFNWHQ $UPV 6LH ZLUG DOV $XUD EH ]HLFKQHW 'LHVH $XUD XPKOOW GHQ SK\VLVFKHQ 0HQVFKHQ ZLH HLQH 1X LKUHQ .HUQ :HQQ PDQ GLH .UDIW GLH GXUFK GLH ]XYRU EH VFKULHEHQHQ PHQWDOHQ hEXQJHQ LQ GDV 6\VWHP GLH ([LVWHQ] GHV 0HQVFKHQ HLQJHWUHWHQLVW]LUNXOLHUHQOlWVREHGHXWHWGLHVGD
GDV 6\VWHP LQ HUKHEOLFKHP 0DH LQ MHGHP 7HLOEHUHLFK PLW /HEHQV NUDIWXQG(QHUJLHDXIJHODGHQZLUG1DWUOLFKPXGLHV]ZDQJVOlXILJ HLQHQ VWDUNHQ (LQIOX DXI GHQ YRQ GHU $XUD XPVFKORVVHQHQ ©.HUQªDXVEHQZDVGHVVHQDOOJHPHLQH*HVXQGKHLWEHWULIIW 'LH OHW]WH =LUNXODWLRQVPHWKRGHHULQQHUW DQGDV6SUXGHOQ HLQHV 6SULQJEUXQQHQV 6RZLH:DVVHUGXUFKHLQ5RKUQDFKREHQJH]RJHQ ZLUG GDQQREHQKHUDXVVSULW]W XQG LQ HLQHP 6SUKUHJHQQDFK DOOHQ 6HLWHQ VSULW]W WXW GLHV EHL GLHVHU OHW]WHQ =LUNXODWLRQVEXQJ DXFK GLH VSLULWXHOOH .UDIW 5LFKWHQ 6LH GHQ *HLVW DEZlUWV ]XP (UG]HQ WUXPXQG LPDJLQLHUHQ 6LH GDGLHVHV =HQWUXP DOV .XOPLQDWLRQ DOOHU EULJHQ =HQWUHQ DOV *HIl DOOHU .UDIW DOV 6SHLFKHU XQG (PSIDQJVVWHOOH GHUDQNRPPHQGHQ 9LWDONUDIWIQJLHUW,PDJLQLHUHQ 6LH GDQQ GD GLHVH .UDIW DXIVWHLJW RGHU GD VLH GXUFK GLH PDJQHWLVFKH $Q]LHKXQJ GHV *HLVW]HQWUXPV EHU GHP .RSI DXI ZlUWVJH]RJHQ RGHU JHVDXJW ZLUG 'LH 0DFKW VWHLJW DXI GHP /LFKWVWUDKO DXI XQG IlOOW DQVFKOLHHQG LQQHUKDOE GHU RYDOHQ $XUD ZLHGHU KHUDE:HQQVLHEHLGHQ)HQDQJHODQJWLVWZLUGVLHZLHGHU JHVDPPHOW XQG LP (UG]HQWUXP NRQ]HQWULHUW EHYRU VLH VFKOLHOLFK HUQHXW GXUFK GHQ /LFKWVWUDKO LQ GHU .|USHUPLWWH KRFKJHGUFNW ZLUG :LH GLH YRUDQJHJDQJHQHQ =LUNXODWLRQVEXQJHQ VROO DXFK GLHVH YRQ UK\WKPLVFKHP (LQ XQG $XVDWPHQEHJOHLWHW ZHUGHQ 'DGXUFK ZLUGGLH +HLONUDIWLQDOOH 7HLOH GHV .|USHUV YHUWHLOW .HLQ $WRP XQG NHLQH =HOOH LQ LUJHQGHLQHP 2UJDQ RGHU LQ HLQHP .|U SHUWHLO HQWJHKW VR GHP (LQIOX GHU KHLOHQGHQ UHJHQHULHUHQGHQ .UDIW 1DFKGHP 6LH GLH =LUNXODWLRQ EHHQGHW KDEHQ N|QQHQ 6LH ,KUHQ *HLVW EHLGHU9RUVWHOOXQJ GHU6SKlUH GHVVSLULWXHOOHQXQGKHLOHQGHQ /LFKWV GLH GHQ JDQ]HQ .|USHU XPJLEW YHUZHLOHQ ODVVHQ 'LH 9L VXDOLVDWLRQ VROOWH VR OHEHQGLJ XQG NUDIWYROO ZLH P|JOLFK VHLQ 'LH (PSILQGXQJ GLH GHU WHLOZHLVHQ RGHU YROOVWlQGLJHQ %LOGXQJ GHU $XUD QDFK GHP EHVFKULHEHQHQ 9HUIDKUHQ IROJW LVW VR FKDUDNWH ULVWLVFK GD PDQ VLH VFKZHUOLFK YHUZHFKVHOQ NDQQ =XQlFKVW EUHLWHW VLFK HLQ VWDUNHV *HIKO GHU 5XKH 9LWDOLWlW XQG $XVJHJOL FKHQKHLW DXVZDV DXIHLQHIULHGOLFKH XQGVWLOOH9HUIDVVXQJ GHV *HLVWHV KLQGHXWHW 'HU .|USHU EHILQGHW VLFK LQ HLQHP Y|OOLJ HQW VSDQQWHQ =XVWDQG XQG DOOH VHLQH 7HLOH VLQG YRP YLEULHUHQGHQ /HEHQVVWURP VWDUN DXIJHODGHQXQGGXUFKGUXQJHQ $XI GHU+DXWDP JDQ]HQ.|USHULVWDXIJUXQGGHU,QWHQVLYLHUXQJGHUGDULQSXOVLHUHQGHQ /HEHQVNUDIWHLQOHLFKWHV3ULFNHOQXQGHLQH:lUPHHPSILQGXQJ
]XVSUHQ'LH$XJHQVLQGNODUXQGOHXFKWHQGGLH+DXWKDWHLQH IULVFKH JHVXQGH )lUEXQJ VLH ©JOKWª XQGDOOH)lKLJNHLWHQ GLH PHQWDOHQ GLH HPRWLRQDOHQ XQG GLH SK\VLVFKHQ ZHUGHQ LQ EH WUlFKWOLFKHP0DHYHUVWlUNW )RNXVVLHUHQGHU(QHUJLH
:HQQ GLHVHU =XVWDQG HLQJHWUHWHQ LVW VROOWH EHL 9RUOLHJHQ LUJHQG ZHOFKHU IXQNWLRQDOHQ 6W|UXQJHQ LQ HLQHP 2UJDQ RGHU .|USHUWHLO GLH $XIPHUNVDPNHLW DXI GLHVHQ .|USHUWHLO IRNXVVLHUW ZHUGHQ ,Q IROJH GLHVHV )RNXVVLHUHQV GHU $XIPHUNVDPNHLW ZLUG HLQ (QHUJLH VWURP JHEQGHOW GHU EHU GHQ VRHEHQ HUUHLFKWHQ DOOJHPHLQHQ =XVWDQG GHU $XVJHJOLFKHQKHLW KLQDXVJHKW 'DV HUNUDQNWH 2UJDQ ZLUG LQ HLQHP 0HHU YRQ /LFKW XQG .UDIW JHEDGHW (UNUDQNWHV *H ZHEH XQG HUNUDQNWH =HOOHQ ZHUGHQXQWHU GHP 6WLPXOXV MHQHU.UDIW DOOPlKOLFK DXIJHO|VW XQG DXV GHU SHUV|QOLFKHQ 6SKlUHHQWIHUQW 'HU UHYLWDOLVLHUWH %OXWVWURP VHQGHW DQVFKOLHHQG QHXH 1DKUXQJ XQG QHXHV /HEHQ ]XP HKHPDOLJHQ .UDQNKHLWVKHUG VR GD QHXH *HZHEH)DVHUQ=HOOHQXVZSUREOHPORVDXIJHEDXWZHUGHQN|QQHQ $XI GLHVH :HLVH ZLUG GXUFK DQKDOWHQGH .RQ]HQWUDWLRQ GHU J|WWOLFKHQ .UDIW DXI GLH 3UREOHPEHUHLFKH GLH *HVXQGKHLW ZLHGHU KHUJHVWHOOW %HL ZHQLJHU HUQVWHQ (UNUDQNXQJHQ NDQQ HV HLQ SDDU 7DJHGDXHUQEHLFKURQLVFKHQXQG HUQVWKDIWHQ3UREOHPHQKLQJHJHQ 0RQDWH ELV DOOH 6\PSWRPH HUIROJUHLFK EHVHLWLJW VLQG RKQH GD DQGHUH DQ LKUH 6WHOOH JHWUHWHQ ZlUHQ %HL $QZHQGXQJ GHU REHQ EHVFKULHEHQHQ 0HWKRGHQ ILQGHW NHLQH 6\PSWRPXQWHUGUFNXQJ VWDWW VRQGHUQ GLH 6\PSWRPH ZHUGHQ UHVWORV DXIJHO|VW 6RJDU DNXWH SV\FKLVFKH 6W|UXQJHQ NDQQ PDQ DXI GLHVH :HLVH KHLOHQ 'HQQ GLH .UDIWVWU|PH JHKHQ YRQ GHQ WLHIVWHQ 6FKLFKWHQ GHV 8QEHZXWHQ DXV LQGHQHQ 1HXURVHQ LKUHQ8UVSUXQJ KDEHQ ZRVLHGLHQHUYDOH (QHUJLH ELQGHQXQGGDGXUFKGHQ VSRQWDQHQ IUHLHQ $XVGUXFN GHU 3V\FKH YHUKLQGHUQ 'DV $XIZDOOHQ GHU /LELGR VREH]HLFKQHQ 3V\FKRORJHQ GLH 9LWDONUDIW O|VW GLH .ULVWDOOLVDWLRQHQ XQG GLH 3DQ]HUXQJHQ DXI GLH GLH YHUVFKLHGHQHQ 6FKLFKWHQ GHU 3V\FKH YRQHLQDQGHUWUHQQHQ 8P SRVLWLY DXI RUJDQLVFKH (UNUDQNXQJHQ HLQ]XZLUNHQ PX PDQ MHGRFK HWZDV DQGHUV YRUJHKHQ 0DQ VROOWH GDEHL XQEHGLQJW PLWHLQHPNRPSHWHQWHQ$U]WLQ.RQWDNWEOHLEHQ ,QGLHVHP)DOO
LVW HLQ HUKHEOLFK VWlUNHUHU .UDIWVWURP HUIRUGHUOLFK XP GLH NUDQN KDIWH 9HUlQGHUXQJ DXI]XO|VHQ XQG MHQH 3UR]HVVH GHV 2UJDQV\VWHPV XQG GHV 6WRIIZHFKVHOVLQ *DQJ]XVHW]HQGLH]XP$XIEDXQHXHQ *HZHEHV XQG QHXHU =HOOVWUXNWXUHQ IKUHQ 8P P|JOLFKVW LGHDOH %HGLQJXQJHQ IU GLH :LHGHUKHUVWHOOXQJ GHU *HVXQGKHLW ]X JH ZlKUOHLVWHQ LVW P|JOLFKHUZHLVH HLQH ]ZHLWH 3HUVRQ HUIRUGHUOLFK GLH GXUFK LKUH HLJHQH 9LWDONUDIW GLHMHQLJH GHV (UNUDQNWHQ XQWHU VWW]W GDPLW OHW]WHUHU JHVXQGHQ NDQQ (LQH 7HFKQLN GLH QDFK PHLQHU (UIDKUXQJ lXHUVW QW]OLFK LVW XQG GLH MHGHU hEHQGH DQ ZHQGHQ NDQQ EHVWHKW GDULQ ]XQlFKVW MHGHQ .|USHUWHLO XQG MHGHV *HZHEH Y|OOLJ ]X HQWVSDQQHQ XQG GDQQ GLH 7HFKQLN GHU 0LWWOHUHQ 6lXOH DQ]XZHQGHQ 'HU 3DWLHQW ZLUG LQ HLQHQ =XVWDQG WLHIHU (QWVSDQQXQJ YHUVHW]W ZREHL MHGH QHXURPXVNXOlUH 6SDQQXQJ JH SUIW XQG GHP 3DWLHQWHQ ]X %HZXWVHLQ JHEUDFKW ZLUG 'DQDFK YHUPDJ GDV %HZXWVHLQ GLH 6SDQQXQJ ORV]XODVVHQ XQG GHQ EH WUHIIHQGHQ 0XVNHO RGHU GDV EHWUHIIHQGH .|USHUJOLHG ]X HQW VSDQQHQ 1DFK PHLQHU (UIDKUXQJ LVW HV VHKU KLOIUHLFK ]XU 9RUEH UHLWXQJ HLQH 0DQLSXODWLRQ GHU :LUEHOVlXOH XQG HLQH 0DVVDJH GXUFK]XIKUHQ PLW WLHIHP .QHWHQ XQG VDQIWHP 6WUHLFKHOQ GHQQ GDGXUFK ZLUG GHU %OXWNUHLVODXI XQG GLH /\PSKSURGXNWLRQ DQJHUHJW ZRGXUFK GHU (UIROJ LQ SK\VLRORJLVFKHU +LQVLFKW VFKRQ ]XU +lOIWH JHVLFKHUW LVW (LQ WLHI HU (QWVSDQQXQJV]XVWDQG WULWW HLQ GLH )H GHV 3DWLHQWHQ ZHUGHQ REHUKDOE GHU .Q|FKHO EHU .UHX] JHOHJW VHLQH )LQJHU ZHUGHQ YHUVFKUlQNW XQG UXKHQ OHLFKW EHU GHP 6RODUSOH[XV 'DQQ VHW]W GHU +HLOHU VLFK ]XU 5HFKWHQ GHV 3DWLHQWHQ ZHQQ GLHVHU HLQ 5HFKWVKlQGHU LVW XQG ]X VHLQHU /LQNHQ ZHQQ HU /LQNVKlQGHU LVW (U OHJW VHLQH UHFKWH +DQG VDQIW DXI GHQ 6RODUSOH[XV GHV 3DWL HQWHQ XQWHU GLH JHIDOWHWHQ +lQGH XQG VHLQH OLQNH +DQG DXI GHQ .RSI GHV 3DWLHQWHQ ZRGXUFK VRJOHLFK HLQH $UW 5DSSRUW HQWVWHKW ,QQHUKDOE ZHQLJHU 0LQXWHQ ZLUG HLQ PDJQHWLVFKHU .UHLVODXI DXI JHEDXWZDVVRZRKOGHU3DWLHQW DOVDXFKGHU+HLOHUVRIRUWVSUW 'HU 3DWLHQW VROOWH IU GLH LQ LKQ HLQVWU|PHQGH .UDIW P|JOLFKVW RIIHQ VHLQ HU VROOWH HLQXQHUVFKWWHUOLFKHV9HUWUDXHQ]XU,QWHJULWlW XQG )lKLJNHLW GHV +HLOHUV KDEHQ )U NXU]H =HLW VROOWH 6WLOOH HLQWUHWHQ ZRUDXI GHU +HLOHU VFKZHLJHQG GLH hEXQJ GHU 0LWWOHUHQ 6lXOH DXVIKUW XQG XQWHUGHVVHQ GHQ SK\VLVFKHQ .RQWDNW ]XP 3D WLHQWHQ DXIUHFKWHUKlOW 6HLQH HUZDFKWHQ VSLULWXHOOHQ =HQWUHQ ZLUNHQ GXUFK GDV 3ULQ]LS GHU 6\PSDWKLH DXI GHQ 3DWLHQWHQ 6R NRPPWHVLQGHU6SKlUHGHV3DWLHQWHQ]XHLQHPlKQOLFKHQ(UZD
FKHQ 'LHV DNWLYLHUW VFKOLHOLFK DXFK VHLQH SV\FKRVSLULWXHOOHQ =HQWUHQ GLH GDUDXIKLQ HLQHQ 6WURP DXVJHJOLFKHQHU (QHUJLH LQ VHLQ N|USHUOLFKJHLVWLJSV\FKLVFKVSLULWXHOOHV 6\VWHPHUJLHHQ 6HOEVW ZHQQ GHU +HLOHU GLH *RWWHVQDPHQ QLFKW K|UEDU YLEULHUW HU]HXJW GLH .UDIW GLH GXUFK VHLQH )LQJHU IOLHW HLQH $NWLYLWlW GLH IU GHQ 3DWLHQWHQ PLW 6LFKHUKHLW HLQH JHZLVVH KHLOHQGH :LUNXQJ KDW 6HLQH SV\FKRVSLULWXHOOHQ =HQWUHQ ZHUGHQ QDFK GHP 3ULQ]LS GHU 6\PSDWKLH ]X HLQHU DNWLYHQ $VVLPLODWLRQ XQG 3URMHNWLRQ YRQ .UDIW DQJHUHJW ZRGXUFK VHLQH 6SKlUH RKQH MHGH EHZXWH %HP KXQJ VHLQHUVHLWV YRQ GHU J|WWOLFKHQ .UDIW GHU +HLOXQJ XQG GHV /HEHQVGXUFKGUXQJHQZLUG :HQQ GHU +HLOHU GLH 3KDVH GHU =LUNXODWLRQ HUUHLFKW VHW]W HU VHLQH )lKLJNHLW ]XP LQQHUHQ 9LVXDOLVLHUHQ HLQH ZDKUKDIW PDJLVFKH .UDIW VR HLQ GD GLH YHUVWlUNWHQ (QHUJLHVWU|PH QLFKW QXU GXUFK VHLQH HLJHQH $XUD VRQGHUQ DXFK GXUFK GLH GHV 3DWLHQWHQ IOLHHQ 1XQ NRPPW HV ]X HLQHU VXEWLOHQ 9HUlQGHUXQJ LQ GHU $UW GLHVHV 5DSSRUWV :lKUHQG ]XYRU GLH %H]LHKXQJ ]ZLVFKHQ +HLOHU XQG 3DWLHQW GXUFK VWDUNH 6\PSDWKLH XQG HLQHQ KDUPRQLVFKHQ *HL VWHV]XVWDQG JHNHQQ]HLFKQHW ZDU NRPPW HV ZlKUHQG XQG QDFK GHU (QHUJLH]LUNXODWLRQ ]X HLQHU WDWVlFKOLFKHQ 9HUHLQLJXQJ XQG ]X HLQHU 'XUFKGULQJXQJGHUEHLGHQ(QHUJLHIHOGHU6LHYHUHLQLJHQVLFK]XHLQHU HLQ]LJHQ ]XVDPPHQKlQJHQGHQ 6SKlUH ZlKUHQG GHU $XVWDXVFK XQG GLH hEHUWUDJXQJ GHU 9LWDOHQHUJLH DQGDXHUW $XI GLHVH :HLVH YHUPDJ GHU +HLOHU RGHU VHLQH XQEHZXWH 3V\FKH E]Z VHLQ VSLULWXHOOHV 6HOEVW JHQDX ]X HUNHQQHQ YRQ ZHOFKHU 6WlUNH GHU YRQ LKP SURML]LHUWH (QHUJLHVWURP VHLQ XQG ZR JHQDX HU LKQ KLQOHQNHQ VROO (LQ SDDU GLHVHU %HKDQGOXQJHQ GLH GLH .RRSHUDWLRQ XQG HLQ 7UDLQLQJ GHV 3DWLHQWHQ LQ GHU $QZHQGXQJ PHQWDOHU 7HFKQLNHQ HUIRUGHUQ YHUP|JHQ PLW 6LFKHUKHLW GHQ PLOLFKHQ =XVWDQG LQ HUKHEOLFKHP 0DH ]X OLQGHUQ 'D )DQDWLVPXV XQEHGLQJW YHU PLHGHQ ZHUGHQ VROOWH NDQQ PDQ PHGL]LQLVFKH XQG PDQLSXODWLYH 0HWKRGHQ VLQQYROO PLW GHQ EHVFKULHEHQHQ PHQWDOHQ 0HWKRGHQ NRPELQLHUHQXPGLH+HLOXQJ]XI|UGHUQXQG]XEHVFKOHXQLJHQ %LVKHU KDEH LFK ]ZDU KDXSWVlFKOLFK EHU GLH +HLOXQJ SK\VLVFKHU .UDQNKHLWHQ JHVSURFKHQ GRFK P|FKWH LFK DXVGUFNOLFK EHWRQHQ GDGLHVH0HWKRGHGXUFKDXVDXFKEHLHLQHUJURHQ=DKODQGHUZHLWLJHU 3UREOHPH DQJHZDQGW ZHUGHQ NDQQ 'LH KLHU YRUOLHJHQGH %H VFKUHLEXQJGHU7HFKQLNZLUGVLFKDOVDGlTXDWDXFKIUDOOHDQGHUHQ
SUREOHPDWLVFKHQ 6LWXDWLRQHQ HUZHLVHQ LQGLH GHU hEHQGH JHUDWHQ NDQQ RE HV VLFK XP *HOGVRUJHQ XP 3UREOHPH GHU &KDUDNWHUHQW ZLFNOXQJRGHUXPJHVHOOVFKDIWOLFKHXQGHKHOLFKH3UREOHPHKDQGHOW WDWVlFKOLFK NDQQ PDQ GDPLW DXI MHGHV GHQNEDUH 3UREOHP HLQZLUNHQ =XVDPPHQIDVVXQJ'LH9RUEHUHLWXQJHQ
:LHGHUKROXQJ LVWVRZRKOEHLP/HKUHQZLHDXFKEHLP(UOHUQHQYRQ 1HXHP YRQ XQVFKlW]EDUHP :HUW 'HVKDOE ZLUG HLQH =XVDP PHQIDVVXQJ GHU YHUVFKLHGHQHQ 9RUJlQJH GLH EHL GHU hEXQJ GHU 0LWWOHUHQ 6lXOH HLQH 5ROOH VSLHOHQ ]XP 9HUVWlQGQLV EHLWUDJHQ $XHUGHP P|FKWH LFK HLQH ZHLWHUH hEHUOHJXQJ DQIKUHQ GLH GLH JDQ]H 0HWKRGH QRFK ZLUNVDPHU PDFKHQ ZLUG GD VLH ]X HLQHU K|KHUHQ (EHQH VSLULWXHOOHQ 9HUVWHKHQV XQG VSLULWXHOOHU 9ROOHQ GXQJ KLQIKUW 'LHVHU OHW]WH 6FKULWW HUP|JOLFKW HV GHP hEHQGHQ G\QDPLVFKH )DNWRUHQ LQQHUKDOE GHU PHQVFKOLFKHQ 3V\FKH ]X DN WLYLHUHQGLHKHOIHQGDVJHZQVFKWH(UJHEQLV]XHUUHLFKHQ :LH ZLU JHVHKHQKDEHQ LVWGHU HUVWH 6FKULWW HLQHSV\FKRSK\ VLVFKH hEXQJ 'HU hEHQGH PX OHUQHQ VLFK ]X HQWVSDQQHQ GLH FKURQLVFKHQ QHXURPXVNXOlUHQ 9HUVSDQQXQJHQ LP HLJHQHQ .|USHU ]X O|VHQ -HGH XQZLOONUOLFKH $QVSDQQXQJ HLQHU 0XVNHOJUXSSH RGHU HLQHV *HZHEHV ZR DXFK LPPHU LP JHVDPWHQ .|USHU PXLQ GHQ %HUHLFK GHV EHZXWHQ *HZDKUVHLQV JHEUDFKW ZHUGHQ %H ZXWKHLWLVWGHUPDJLVFKH 6FKOVVHO GHUGHUDUWLJH 6SDQQXQJHQ EXFKVWlEOLFK VFKPHO]HQ XQG DXIO|VHQ NDQQ 1XU HLQ ZHQLJ hEXQJ LVW GD]XQRWZHQGLJ XQGGLHVH LVW VHKU OHLFKW ]X HQWZLFNHOQ 'LH HQWVFKHLGHQGH )ROJH N|USHUOLFKHU (QWVSDQQXQJ LVW GD VLFK GHU *HLVW VHOEVW LQ DOOHQ VHLQHQ %HUHLFKHQ XQG 9HU]ZHLJXQJHQ LQ lKQOLFKHU:HLVHHQWVSDQQW 3V\FKLVFKH $QVSDQQXQJ XQG VRPDWLVFKH 6WDUUKHLW VLQG GLH JURHQ +LQGHUQLVVH GLH GHU (UNHQQWQLV GHU $OOJHJHQZDUW *RWWHV LP :HJHVWHKHQ 6LH KLQGHUQGHQ 0HQVFKHQGDUDQ VLFKGHUVWlQ GLJHQ *HJHQZlUWLJNHLW GHU /HEHQVNUDIW EHZXW ]XZHUGHQ GHU $EKlQJLJNHLW GHV *HLVWHV YRP RGHU VRJDU VHLQHU OHW]WHQGOLFKHQ ,GHQWLWlWPLWGHP XQLYHUVDOHQ*HLVWGHPNROOHNWLYHQ8QEHZXWHQ :HQQGLHNOHLQHQ +LQGHUQLVVH GHV*HLVWHV EHVHLWLJWZRUGHQ VLQG XQGGDV/HEHQVHLQHQXQPHKUHUZHLWHUWH6WUXNWXUGXUFKIOX
WHW ZHUGHQ ZLU XQV IDVW DXJHQEOLFNOLFKGHVG\QDPLVFKHQ 3ULQ]LSV EHZXW GDV DOOH 'LQJH GXUFKGULQJW 'LHVHU 6FKULWW LVW ]ZHLIHOORV GLH ZLFKWLJVWH 3KDVH LQ GHU $QZHQGXQJ GLHVHU SV\FKRVSLULWXHOOHQ 7HFKQLNHQ 1DFKGHP PDQ VLFK GHV ]XYRU %HVFKULHEHQHQ EHZXW JHZRUGHQ LVWLVWGHUQlFKVWHORJLVFKH6FKULWWGLHLQQHUHQVSLULWXHOOHQ=HQWUHQ ]X HUZHFNHQ GLH GLH LP ©+RFKVSDQQXQJV]XVWDQGª EHILQGOLFKH .UDIW LQ HLQHQ IU GHQ 0HQVFKHQ QXW]EDUHQ $JJUHJDW]XVWDQG XP]XZDQGHOQ YHUP|JHQ 8P GLHV EHJUHLIOLFK ]X PDFKHQ N|QQWH PDQ GHQ VSLULWXHOOHQ $QWHLO GHV 0HQVFKHQ PLW HLQHP 5DGLR HPSIlQJHU YHUJOHLFKHQ 'DV *HUlW PX PLW 6WURP HQWZHGHU DXV HLQHU%DWWHULHRGHUDXVGHU6WHFNGRVHHLQJHVFKDOWHWZHUGHQEHYRUHV VHLQH)XQNWLRQHUIOOHQNDQQ(UVWZHQQHV©XQWHU6WURPVWHKWªNDQQ GHU NRPSOL]LHUWH 0HFKDQLVPXV DXV 'UlKWHQ 7UDQVIRUPDWRUHQ .RQGHQVDWRUHQ 5|KUHQ XQG $QWHQQHQ GLH LKP ]XJHGDFKWH $XIJDEH HUIOOHQ %HLP 0HQVFKHQ YHUKlOW VLFK GLHV QLFKW DQGHUV :LUN|QQHQXQVOHLFKWHUPLWGHP8QHQGOLFKHQLQ(LQNODQJEULQJHQ ZHQQ ZLU GLH LQQHUHQ =HQWUHQ VR]XVDJHQ GLH PHQVFKOLFKHQ 5DGLRU|KUHQ ©XQWHU6WURPVHW]HQª,VWGDV5DGLRHLQJHVFKDOWHW VR NDQQ GHU J|WWOLFKH .UDIWVWURP DXI YHUVFKLHGHQH :HLVH GXUFK GDVVHOEH KLQGXUFKJHOHLWHW ZHUGHQ ELV VRZRKO GHU .|USHU DOV DXFK GHU *HLVWLQPDFKWYROOHU :HLVH YLWDOLVLHUW XQGGXUFKVSLULWXHOOH (QHUJLHJHVWlUNWLVW *HEHW
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|WWOLFKH.UDIWGRFKGXUFKGLHIHXULJH,QWHQVLWlWDOOHUHPRWLRQDOHQ
(UUHJXQJ GHUHQ ZLU IlKLJ VLQG LQ GDV 8QLYHUVXP JHVFKOHXGHUW 'HVKDOE LVW *HEHW XQYHU]LFKWEDU *HEHW QLFKW QXU DOV HLQH %LWWH DQ HLQHQ *RWW DXHUKDOE GHV 8QLYHUVXPV VRQGHUQ *HEHW DOV VSLUL WXHOOHU XQG HPRWLRQDOHU 6WLPXOXV GD]X EHVWLPPW HLQH ,GHQWLIL NDWLRQ PLW XQVHUHU HLJHQHQ *RWWKHLW E]Z GLH (UNHQQWQLV GHUVHOEHQ ]XZHJH ]X EULQJHQ $XIULFKWLJHV *HEHW ZLUG DOOH (LJHQVFKDIWHQ GHV 6HOEVW PRELOLVLHUHQ XQG GLH ,QEUXQVW GLH HV ZHFNW VWlUNW GLH ]XYRU JHWDQH $UEHLW 'HP *HEHW PX GHU (UIROJ IDVW XQZHLJHUOLFK IROJHQ 'HQQ LQ VROFKHQ )lOOHQ LVW (UIROJ QLFKW GDV (UJHEQLV HLJHQHU PHQVFKOLFKHU %HPKXQJHQ VRQGHUQ YRQ *RWW EHZLUNW ,QEUXQVW XQG GHU =XVWDQG HPRWLRQDOHU (UUHJXQJ EHIlKLJHQ GLH LQQHUH *RWWKHLW ]X HUNHQQHQ XQG GLHV LVW GHU VSLULWXHOOH )DNWRU GHU XQ VHUHQ :QVFKHQ ]XU VRIRUWLJHQ XQG YROOVWlQGLJHQ (UIOOXQJ YHU KLOIW 'RFK P|FKWH LFK EH]ZHLIHOQ RE VWLOOHV QLFKW YRQ (PRWLRQ JHWUDJHQHV *HEHW LQ GLHVHP )DOO YRQ LUJHQGZHOFKHP :HUW LVW 'LHVHV NDOWH %LWWJHEHW KDW LP %HUHLFK GHU K|FKVWHQ .RQ]HSWLRQHQ VSLULWXHOOHU 9ROOHQGXQJ NHLQHQ 3ODW] (LQ DOWHU 0HWDSK\VLNHU VDJWH HLQPDO ©(QWEUHQQH LP *HEHWª 'LHV LVW GDV *HKHLPQLV :LU PVVHQ VR EHWHQ GD XQVHU JDQ]HV 6HLQ YRQ HLQHU VSLULWXHOOHQ ,QWHQVLWlW HQWEUHQQW GHU QLFKWV VWDQG]XKDOWHQ YHUPDJ $OOH ,OOX VLRQHQXQGDOOH%HJUHQ]XQJHQVFKZLQGHQYRUGLHVHU,QEUXQVWGDKLQ :HQQ GLH 6HHOH EXFKVWlEOLFK YHUEUHQQW LVW GLH VSLULWXHOOH ,GHQWLWlW PLW *RWW HUUHLFKW 'DQQ ZLUG GHU +HU]HQVZXQVFK RKQH 0KH HUUHLFKW ZHLO *RWW GLHV EHZLUNW 'HU :XQVFK ZLUG ]XU 7DWVDFKH ]XUREMHNWLYHQSKlQRPHQDOHQ7DWVDFKHGLHMHGHUVHKHQ NDQQ 'RFK ZHOFKHV *HEHW VROOWH PDQ EHQXW]HQ XP GHQ *HLVW ]X GLHVHU ,QWHQVLWlW ]X HUKHEHQ XP GLH HPRWLRQDOH ,QEUXQVW ]X ZHFNHQ YRQ GHU HV KLH ©(QWEUHQQH LP *HEHWª" ,FK ELQ GHU 0HLQXQJ GD MHGHU GLHV IU VLFK VHOEVW KHUDXVILQGHQ PX -HGHU 0DQQXQGMHGH)UDXKDWHLQH9RUVWHOOXQJEHUGDV*HEHWGLHZHQQ VLHNRQVHTXHQWSUDNWL]LHUWZLUGGLHEHWUHIIHQGH3HUVRQHQWIODPPHQ XQG ]XU 5HDOLVDWLRQ IKUHQ ZLUG 0DQFKH 0HQVFKHQ YHUZHQGHQ HLQ *HGLFKW GDV VLH VWHWV HPRWLRQDO VWDUN DQJHVSURFKHQ KDW $QGHUH ZHUGHQ GDV *HEHW GHV +HUUQ GDV 9DWHUXQVHU RGHU YLHOOHLFKW DXFK GHQ 3VDOP YHUZHQGHQ(VJLEW MHGRFKQRFKYLHOH DQGHUH 0|JOLFKNHLWHQ ,FK SHUV|QOLFK ]LHKH HV YRU JHZLVVH DUFKDL VFKH+\PQHQ]XEHQXW]HQGLHDOV,QYRNDWLRQHQEHNDQQWVLQGGLH
MHGRFK JOHLFK]HLWLJ DXFK *HEHWH VLQG XQG GLH VLFKHUOLFK GLH JH ZQVFKWH :LUNXQJ KDEHQ GDV QRWZHQGLJH HPRWLRQDOH 3RWHQWLDO ]X ZHFNHQ ,Q GHU +RIIQXQJ GD VLH DXFK DQGHUHQ QW]OLFKH 'LHQVWH OHLVWHQ P|JHQ IJH LFK HLQLJH )UDJPHQWH VROFKHU ,QYRND WLRQHQEHL 'DV HUVWH EHVWHKW DXV 9HUVHQ GLHDXV YHUVFKLHGHQHQ 6FKULIWHQVWDPPHQ
,FK ELQGLH$XIHUVWHKXQJXQGGDV/HEHQ:HUDQPLFKJODXEW ZLUG OHEHQ DXFK ZHQQ HU WRW ZlUH XQG ZHU OHEW XQG DQ PLFK JODXEW ZLUG HZLJHV /HEHQHUODQJHQ,FKELQGHU$QIDQJXQGGDV(QGH,FKELQ(UGHUOHEWXQG GHU WRW ZDU GRFK VLHKH ,FK ELQDXI HZLJ OHEHQGLJXQGKDOWH GLH6FKOVVHO GHU +|OOH XQGGHV7RGHVLQ+lQGHQ 'HQQ LFKZHL GDPHLQ (UO|VHU OHEWXQGGDHUDPMQJVWHQ7DJDXIGHU(UGHVHLQZLUG,FKELQGHU:HJGLH :DKUKHLWXQGGDV/HEHQ1LHPDQGNRPPW]XP9DWHUZHQQQLFKWGXUFK PLFK ,FKELQJHUHLQLJW ,FKKDEHGLH7RUHGHU'XQNHOKHLW GXUFKVFKULWWHQ XQG ELQ ]XP /LFKW JHODQJW ,FK KDEH DXI (UGHQ GHQ JXWHQ.DPSI JHNlPSIW ,FK KDEH PHLQH $UEHLW YROOHQGHW ,FK ELQ LQ GDV 8QVLFKWEDUH HLQJHWUHWHQ
,FK ELQGLHDXIVWHLJHQGH 6RQQH GLHGLH6WXQGHQ GHU:RONHQXQGGHU 1DFKW GXUFKZDQGHUW KDW ,FK ELQ $PXQ GHU 9HUERUJHQH GHU (U|IIQHU GHV 7DJHV ,FK 2VLULV 2QQRSKULV GHU *HUHFKWIHUWLJWH GHU +HUU GHV /H EHQVGHUEHU GHQ7RGWULXPSKLHUW (VJLEW NHLQHQ 7HLOYRQPLU GHUQLFKW YRQ GHQ *|WWHUQ VWDPPW ,FKELQGHU:HJEHUHLWHU GHU5HWWHU GHV/LFKWV 0|JHGDV:HLH/LFKWGHV*|WWOLFKHQ*HLVWHVKHUDEVWHLJHQ
'DV ]ZHLWH )UDJPHQW XQWHUVFKHLGHW VLFK VWDUN YRP RELJHQ RE JOHLFKEHLGHHLQHlKQOLFKH :LUNXQJ DXI GLH 3HUV|QOLFKNHLW KDEHQ ZHQQ PDQ VLH ODQJVDP UH]LWLHUW GDUEHU PHGLWLHUW XQG VLH LQWHQVLY HUVSUW 'LHVHV ]ZHLWH *HEHW EHVWHKW DXV ]ZHL 7HLOHQ GHUHUVWH LVW HLQH $UW %LWWH GHV K|KHUHQ J|WWOLFKHQ 6HOEVW ZlKUHQG GHU ]ZHLWH 7HLOVLFKDXIGLH5HDOLVDWLRQGHU,GHQWLWlWPLWHUVWHUHPEH]LHKW 'LFKGDV8QJHERUHQHUXIHLFKDQ 'LFKGDV+LPPHOXQG(UGHHUVFKDIIHQKDW 'LFKGDVGHQ7DJXQGGLH1DFKWJHVFKDIIHQKDW 'LFKGDVGLH'XQNHOKHLWXQGGDV/LFKWJHVFKDIIHQKDW 'XELVWGHU9ROOHQGHWH0HQVFKGHQQLHMHPDQGJHVHKHQKDW 'XELVW*RWWXQG*RWWVHOEVW 'XKDVW]ZLVFKHQGHQ*HUHFKWHQXQGGHQ8QJHUHFKWHQXQWHUVFKLHGHQ 'XKDVWGDV:HLEOLFKHXQGGDV0lQQOLFKHJHVFKDIIHQ
'XKDVWGHQ6DPHQXQGGLH)UXFKWHU]HXJW 'XKDVWGLH0HQVFKHQJHVFKDIIHQDXIGDVLHHLQDQGHUOLHEHQXQG HLQDQGHUKDVVHQ 'XKDVWGDV)HXFKWHXQGGDV7URFNHQHJHVFKDIIHQXQGGDVZDVDOOH /HEHZHVHQQlKUW
'LH ]ZHLWH +lOIWH GLHVHU ,QYRNDWLRQ VROOWH HUVW QDFK HLQHU OlQJHUHQ 3DXVH IROJHQ LQGHUPDQ ]XHUNHQQHQ YHUVXFKW ZDVJHQDXGDV *HEHW EHLQKDOWHW XQGGD HV GHQ *HLVW ]X HLQHU :UGLJXQJ GHU JHKHLPHQ YHUERUJHQHQ LQQHUHQ *RWWKHLW HUKHEW GLH GHU 6FK|SIHU DOOHU'LQJHLVW
'LHV LVW GHU +HUU GHU *|WWHU 'LHV LVW GHU +HUU GHV 8QLYHUVXPV 'LHV LVW (UGHQGHU:LQGIUFKWHW'LHVLVW(UGHUGXUFKVHLQH*HERWHNXQGJHWDQ KDWGDHUGHU+HUUDOOHU'LQJHGHU.|QLJGHU+HUUVFKHUXQG+HOIHULVW +|UH PLFK XQG PDFKH PLU DOOH *HLVWHU XQWHQDQ DXI GD MHGHU *HLVW GHV )LUPDPHQWHV XQG GHV bWKHUV DXI (UGHQXQGXQWHU GHU (UGH ]X /DQGH XQG]X:DVVHULQGHUEUDXVHQGHQ /XIWXQGLPORGHUQGHQ)HXHUXQGMHGHU =DXEHUXQGMHGH3ODJH*RWWGHP(UKDEHQHQJHIJLJJHPDFKWZLUG
,FKELQ(U'HU8QJHERUHQH*HLVWGHUPLWGHQ)HQVHKHQNDQQ 6WDUNXQGGDV8QVWHUEOLFKH)HXHU ,FKELQ(UGLH:DKUKHLW ,FKELQ(UGHUKDWGDGDV%|VHLQGHU:HOWZLUNW ,FKELQ(UGHUEOLW]WXQGGRQQHUW ,FKELQ(UGHVVHQ0XQGDOO]HLW)HXHUVSHLW ,FKELQ(UGHU(U]HXJHUXQG2IIHQEDUHUGHV/LFKWV ,FKELQ(UGLH*QDGHGHU:HOW ©'DVYRQGHU6FKODQJHXPJUWHWH+HU]ªLVWPHLQ1DPH
'LHVH *HEHWVIUDJPHQWH VLQGQXU DOV $QUHJXQJHQ ]X YHUVWHKHQ 0DQNDQQDXIVLH]XUFNJUHLIHQ ZHQQPDQ ZLOO6LHWXQIUPLFK GLH JHZQVFKWH :LUNXQJ VLH N|QQHQGLHVDXFKEHLDQGHUHQ WXQ HVNDQQDEHUDXFKVHLQGDVLHVLFKDOVXQZLUNVDPHUZHLVHQ 1LFKWWKHUDSHXWLVFKH$QZHQGXQJHQ
$EJHVHKHQYRQWKHUDSHXWLVFKHQJLEWHVZLHLFKEHUHLWVZHLWHUREHQ DQJHGHXWHWKDEHDXFKQRFKDQGHUH$QZHQGXQJVEHUHLFKHIUGLH
hEXQJ GHU 0LWWOHUHQ 6lXOH 'HU H[SHULPHQWLHUIUHXGLJH hEHQGH ZLUGVLFKHUOLFKHLJHQH$QZHQGXQJVP|JOLFKNHLWHQ ILQGHQ $XV GHQ XQWHUVFKLHGOLFKVWHQ *UQGHQ NDQQ HV VHLQ GD JHZLVVH %HGUIQLVVH GHV /HEHQV SK\VLVFKH RGHU VSLULWXHOOH YHUOHXJQHW ZRUGHQ VLQG XQG GD GLHV HLQH EHKLQGHUQGH :LUNXQJ DXI GHQ &KDUDNWHU KDW XQG ]X HLQHP *HIKO GHU )UXVWUDWLRQ IKUW /HW] WHUHVKDWVWHWV HLQHGHSULPLHUHQGH XQGKHPPHQGH :LUNXQJDXIGHQ PHQVFKOLFKHQ *HLVW ZDV ]X 8QHQWVFKORVVHQKHLW ,QHIIHNWLYLWlW XQG 0LQGHUZHUWLJNHLWVJHIKOHQ IKUW (V JLEW HLJHQWOLFK NHLQHQ ]ZLQJHQGHQ *UXQG GDIU GD XQVHU /HEHQ LQ XQYHUKlOWQLVPlLJHU :HLVH IUXVWULHUW XQGEHKLQGHUW VHLQ PX (LQ JHZLVVHV 0D DQ 8QDQQHKPOLFKNHLWHQ LVW ]ZHLIHOORV XQYHUPHLGOLFK 6RODQJH ZLU 0HQVFKHQ VLQG LVWHV]LHPOLFK VLFKHU GDXQVHUH %HPKXQJHQ XQVHUHP LQQHUHQ 6HOEVW ]XP $XVGUXFN ]X YHUKHOIHQ LQJHZLVVHP 0DH GXUFKNUHX]W ZHUGHQ XQG GD ZLU LQIROJHGHVVHQ HLQ JHZLVVHV 0D DQ )UXVWUDWLRQ HUOHLGHQ 'RFK MHGHV DEQRUPH 0D DQ )UX VWUDWLRQXQG MHGHVDQKDOWHQGH GHUDUWLJH *HIKO NDQQ PLW+LOIH GHU EHVFKULHEHQHQ PHQWDOHQ XQG VSLULWXHOOHQ 0HWKRGHQ EHKDQGHOW XQGDXIJHO|VWZHUGHQ =XQlFKVW HLQPDOLVWHLQ 9HUVWlQGQLV GHV /HEHQV XQG HLQEHGLQ JXQJVORVHV $N]HSWLHUHQ DOO GHVVHQ ZDV ]XP /HEHQ JHK|UW VRZLH MHGHU(UIDKUXQJ ZLFKWLJ0LWGHP9HUVWHKHQ ZLUGVLFKHLQH/LHEH ]XP /HEHQ HLQVWHOOHQ GHQQ /LHEH XQG 9HUVWHKHQ VLQG HLQXQG GDVVHOEH $XFK ZLUGGLHV GLH (QWVFKORVVHQKHLW QlKUHQ QLFKWOlQJHU QDWUOLFKH 3UR]HVVH ]X GXUFKNUHX]HQ VRQGHUQ VWDWW GHVVHQ GXUFK $N]HSWLHUHQ PLW GHU 1DWXU ]X NRRSHULHUHQ 'LH 0HWKRGHQ VSLUL WXHOOHU XQG PHQWDOHU (QWZLFNOXQJ JHEHQ VHLW ODQJHU =HLW *UXQG ]X GHU+RIIQXQJGDGLHVH+HPPQLVVHJHPLOGHUWZHUGHQN|QQHQ 0DWHULHOOH XQG LGHHOOH $UPXW JDOWHQ GHQ 0HLVWHUQXQG /HKUHUQ GLHVHU 7HFKQLNHQ ]X DOOHQ =HLWHQ DOV YHUlQGHUEDU *HZ|KQOLFK EHVWHKW GLH 9RUJHKHQVZHLVH GDULQ VR ODQJH XQG VR WLHI EHU JHQDX GHQPHQWDOHQ6WLPXOXVGLHPRUDOLVFKH4XDOLWlWRGHUGDVPDWHULHOOH 2EMHNW ]X UHIOHNWLHUHQ ELV GLH ,GHH RGHU GDV %HGUIQLV LQ GDV VRJHQDQQWH 8QWHUEHZXWH VLQNW :HQQ GLH %DUULHUHQ GLH XQV YRP 8QEHZXWHQ WUHQQHQ EHUZXQGHQ VLQGXQG OHW]WHUHV GLH ,GHH GHV %HGUIQLVVHV DN]HSWLHUW VROO GDV /HEHQ DQJHEOLFK IUKHU RGHU VSlWHU ]ZDQJVOlXILJ HLQHV GHU JHZQVFKWHQ 2EMHNWH (LJHQVFKDIWHQ XVZDQ]LHKHQ 'RFK ZLHEHLDOOHQWKHUDSHXWLVFKHQ 0HWKRGHQ JDE HVDXFKEHLGLHVHP9HUIDKUHQYLHOH)lOOHLQGHQHQVLFKWURW]
JHQDXHQ%HIROJHQVGHUEHVFKULHEHQHQ9RUJHKHQVZHLVHQ NHLQ(UIROJ HLQVWHOOWH,FKELQGDYRQEHU]HXJWGDGLHVH0HWKRGHQDXVJHQDX GHQ JOHLFKHQ *UQGHQ YHUVDJHQ ZLH GLH %HPKXQJHQ PLW LKUHU +LOIH]XKHLOHQ'HU*UXQGEHVWHKWPHLQHU0HLQXQJQDFKGDULQ GD LQ GLHVHQ )lOOHQ NHLQ HFKWHV 9HUVWlQGQLV GHV LQQHUHQ SV\FKRG\QDPLVFKHQ 0HFKDQLVPXV YRUODJ GHU VROFKH :LUNXQJHQ HU]HXJHQ NDQQ 'LH EHWUHIIHQGH 3HUVRQ KDWWH NHLQHUOHL 9HUVWlQGQLV YRQGHQ 0HWKRGHQ GXUFK ZHOFKH PDQGLHG\QDPLVFKH 1DWXU GHV 8QEHZXWHQVRDQUHJHQNDQQGDGLHPHQVFKOLFKH3HUV|QOLFKNHLW LQ HLQHQ PlFKWLJHQ 0DJQHWHQ YHUZDQGHOW ZLUG GHU DOOHV DQ]LHKW ZRQDFK HU ZDKUKDIW YHUODQJW RGHU ZDV HU ]X VHLQHP :RKOHUJHKHQEHQ|WLJW 2EGLHVHV9RUJHKHQPRUDOLVFK]XUHFKWIHUWLJHQ LVWLVWHLQH)UDJH PLW GHU LFK PLFK KLHU QLFKW DXVIKUOLFK EHVFKlIWLJHQ P|FKWH REJOHLFK LFKZHL GDYLHOH /HVHU VLFKGLHVH)UDJHVWHOOHQZHUGHQ 0HLQH NXU]H $QWZRUW DXIGLHVH )UDJHLVW$OOH )lKLJNHLWHQ GLHZLU KDEHQ VLQG GDIU GD GD ZLU VLH QXW]HQ XQG ]ZDU VRZRKO ]X XQVHUHP HLJHQHQ 9RUWHLO DOV DXFK ]XP :RKOHDQGHUHU ,FK VHKH QLFKWZLHHVXQVVHOEVWRGHUXQVHUHQ0LWPHQVFKHQGLHQOLFKVHLQ N|QQWH ZHQQ ZLU XQV LQ HLQHP =XVWDQG VWlQGLJHU PHQWDOHU $Q VSDQQXQJ HPRWLRQDOHU )UXVWUDWLRQ XQG JURHU $UPXW EHILQGHQ :HQQZLUKLQJHJHQGLHVH(LQVFKUlQNXQJHQHOLPLQLHUHQXQGXQVHUH PHQWDOHQ XQG HPRWLRQDOHQ *DEHQ HQWZLFNHOQ VR GD GLH VSLULWXHOOH 1DWXU XQVHUH 3HUV|QOLFKNHLW ]X GXUFKGULQJHQ XQG VLFK DXISUDNWLVFKH:HLVH]XPDQLIHVWLHUHQ YHUPDJGDQQVLQGZLULQGHU /DJHGHQ0HQVFKHQ PLWGHQHQZLULQ.RQWDNWWUHWHQ]XKHOIHQ XQG ]XGLHQHQ 'XUFK 6WLPXODWLRQGHULQQHUHQSV\FKRVSLULWXHOOHQ =HQWUHQ XQG DQVFKOLHHQGHV NODUHV XQG OHEHQGLJHV )RUPXOLHUHQ GHU HLJHQHQ )RUGHUXQJHQ DQGDV8QLYHUVXP N|QQHQ ZLUIDVWDOOHV DQ]LHKHQ ZDV ZLU EUDXFKHQ QDWUOLFKQXUVRODQJHHVVLFKLP 5DKPHQGHV9HUQQIWLJHQXQG0|JOLFKHQEHZHJW 'LH9HUZHQGXQJGHUDVWURORJLVFKHQ6WUXNWXU
=XQlFKVW HLQPDO P|FKWH LFKEHPHUNHQ GD DXV SUDNWLVFKHU 6LFKW GLH *UXQGODJHQ GHV DVWURORJLVFKHQ 6\VWHPV YRQ XQHUPHOLFKHP :HUWVLQGGDHVHLQHH[DNWH .ODVVLILNDWLRQGHVJURHQ6SHNWUXPV DOOHU'LQJHHUP|JOLFKW,FKP|FKWHPLFKKLHUQLFKWPLWGHU
$VWURORJLHDOVVROFKHU EHIDVVHQ VRQGHUQQXUGDPLW GDHVYRQ 9RUWHLO LVW LKU 6\VWHP ]X EHQXW]HQ ,KUH :XU]HOQ OLHJHQ LQ GHQ VLHEHQ +DXSWLGHHQRGHU 3ODQHWHQ DXI ZHOFKH PDQGLH PHLVWHQ ,GHHQXQG'LQJH EH]LHKHQ NDQQ -HGHUGLHVHU:XU]HOLGHHQ ZLUG HLQH SRVLWLYH XQG HLQH QHJDWLYH )DUEH ]XJHRUGQHW VRZLH ]XP =ZHFN GHU 9LEUDWLRQ HLQ *RWWHVQDPH ,P IROJHQGHQ ZHUGHQGLH 3ODQHWHQ PLW LKUHQ LQ PHLQHQ $XJHQ ZLFKWLJVWHQ $WWULEXWHQ DXIJHIKUW 6DWXUQ bOWHUH 0HQVFKHQ XQG lOWHUH 3OlQH 6FKXOGHQ XQG LKUH 5FN]DK OXQJ /DQGZLUWVFKDIW *UXQGEHVLW] 7RG 7HVWDPHQWH 6WDELOLWlW 7UlJ KHLW 3RVLWLYH )DUEH LQGLJR QHJDWLYH )DUEH VFKZDU] *RWWHVQDPH-H KRYD(ORKLP
-XSLWHU hEHUIOX )OOH :DFKVWXP (UZHLWHUXQJ *UR]JLJNHLW 6SLUL WXDOLWlW9LVLRQHQ7UlXPHODQJH5HLVHQ%DQNLHUV*OlXELJHU6FKXOGQHU *OFNVVSLHO3RVLWLYH)DUEHSXUSXU QHJDWLYH)DUEHEODX*RWWHVQDPH
0DUV (QHUJLH (LOH :XW $XIEDX RGHU =HUVW|UXQJMH QDFK =XVDPPHQ KDQJ@ *HIDKU FKLUXUJLVFKHU (LQJULII 9LWDOLWlW XQG 0DJQHWLVPXV :LO OHQVNUDIW 3RVLWLYH XQG QHJDWLYH )DUEH OHXFKWHQGHV 5RW *RWWHVQDPH (ORKLP*LERU 6RQQH 9RUJHVHW]WH $UEHLWJHEHU OHLWHQGH $QJHVWHOOWH %HDPWH 0DFKW XQG (UIROJ /HEHQ *HOG :DFKVWXP MHJOLFKHU $UW ,OOXPLQDWLRQ ,PDJL QDWLRQ JHLVWLJH 0DFKW *HVXQGKHLW 3RVLWLYH )DUEH RUDQJH QHJDWLYH )DUEH JHOE RGHUJROG *RWWHVQDPH-HKRYD(ORDKYD'DDV,$29HQXV 6R]LDOH %H]LHKXQJHQ =XQHLJXQJ (PRWLRQHQ )UDXHQ MQJHUH 0HQVFKHQ $OOH 9HUJQJXQJHQ XQG GLH .QVWH 0XVLN 6FK|QKHLW ([ WUDYDJDQ] /X[XV 6LFKJHKHQODVVHQ 3RVLWLYH XQG QHJDWLYH )DUEH LVW VPDUDJGJUQ*RWWHVQDPH-HKRYD7VDYRRV 0HUNXU *HVFKlIWOLFKH $QJHOHJHQKHLWHQ 6FKUHLEHQ 9HUWUlJH 8UWHLOH XQGNXU]H5HLVHQ.DXIHQ9HUNDXIHQ+DQGHOQ1DFKEDUQ,QIRUPDWLRQHQ JHEHQ XQG HQWJHJHQQHKPHQ /LWHUDULVFKH )lKLJNHLWHQ XQG LQWHOOHNWXHOOH )UHXQGH %FKHU 3DSLHULPDOOJHPHLQHQ 3RVLWLYH)DUEHJHOEQHJDWLYH )DUEHRUDQJH*RWWHVQDPF(ORKLP7VDYRRV 0RQG gIIHQWOLFKNHLW )UDXHQ 6LQQHVUHDNWLRQHQ .XU]H 5HLVHQ XQG 8P]JH 9HUlQGHUXQJHQXQG)OXNWXDWLRQHQ 'LH3HUV|QOLFKNHLW 3RVLWLYH )DUEHEODX QHJDWLYH)DUEHEUDXQURW*RWWHVQDPH6KDGGDL(O&KDL
'LHVVLQGLQ.XU]IDVVXQJGLH$WWULEXWHGHU3ODQHWHQQDFKZHOFKHQ PDQ IDVW DOOHV NODVVLIL]LHUHQ NDQQ 'LHVH .ODVVLILNDWLRQ LVW lXHUVW QW]OLFK ZHLO VLH XQV GLH $XIJDEH XQVHUHU SK\VLVFKHQ XQG VSLULWX HOOHQ (QWZLFNOXQJ XQJHKHXHU YHUHLQIDFKW ,FK P|FKWH ]XP $E VFKOX HLQ SDDU HLQIDFKH %HLVSLHOH DQIKUHQ XP GLH )XQNWLRQ XQG GLH0HWKRGHGHU$QZHQGXQJGLHVHU(QWVSUHFKXQJHQ]XLOOXVWULHUHQ 'LH9HUZHQGXQJYRQDVWURORJLVFKHQ(QWVSUHFKXQJHQ
$QJHQRPPHQ LFK EHVFKlIWLJH PLFK PLW JHZLVVHQ 6WXGLHQ ZHOFKH %FKHU HUIRUGHUQ GLH QLFKW RKQH ZHLWHUHV LQ %XFKOlGHQ HUKlOWOLFK VLQG 2EZRKO LFK EHUDOO QDFKJHIUDJW KDEH 6XFKDQ]HLJHQ DXIJH JHEHQ KDEH XQG EHUHLW ELQ HLQHQ DQVHKQOLFKHQ 3UHLV GDIU ]X ]DKOHQ IKUHQ DOOH GLHVH %HPKXQJHQ ]X NHLQHP (UJHEQLV 'LHV ]LHKW VLFK VR ODQJH KLQ GD VLH GLH $UEHLW VFKOLHOLFK XQYHUKlOW QLVPlLJ XQG LQ lUJHUOLFKHP 0DH YHU]|JHUQ 'DUDXIKLQ HQW VFKOLHH LFK PLFK VLH PLW GHQ PLU ]XU 9HUIJXQJ VWHKHQGHQ 0LWWHOQ DE]XVFKOLHHQ ,Q EHVWLPPWHQ IHVWJHOHJWHQ ,QWHUYDOOHQ YRU]XJVZHLVHEHLP$XIZDFKHQDP0RUJHQXQGYRUGHP(LQVFKODIHQ DP $EHQG EH LFK UK\WKPLVFKH $WPXQJ XQG GLH 7HFKQLN GHU 0LWWOHUHQ 6lXOH 'XUFK GLHVH 0HWKRGHQ KDEH LFK XQJHKHXUH 0HQJHQ VSLULWXHOOHU .UDIW PRELOLVLHUW XQG GDV 8QEHZXWH ]X HLQHU PlFKWLJHQ 6SHLFKHUEDWWHULH XPJHZDQGHOW GLH EHUHLW LVW 0DFKW ]X SURML]LHUHQ RGHU DQ]X]LHKHQ XP PHLQ %HGUIQLV ]X HUIOOHQ 'LHVH ODVVHLFKGXUFK PHLQH$XUD]LUNXOLHUHQ 'HU QlFKVWH 6FKULWW EHVWHKW GDULQ GD LFK GLH QHJDWLYH RGHU SDVVLYH )DUEH YRQ 0HUNXU YLVXDOLVLHUH RUDQJH 0HGLWDWLRQ EHU GLHVH )DUEH IlUEW GLH PLFK XPJHEHQGH $XUD RUDQJH 2UDQJH KDEH LFK JHZlKOW ZHLO %FKHU GLH LFK MD EHQ|WLJH 0HUNXU ]XJHRUGQHW ZHUGHQ XQG LFK KDEH GLH QHJDWLYH )DUEH JHZlKOW ZHLO GLHVH GLH 6SKlUH GHU (PSILQGXQJ LQ HLQHQ RIIHQHQ SDVVLYHQ XQG UH]HSWLYHQ =XVWDQG YHUVHW]W 'DQQ ODGH LFK GLH $XUD DXI XQG YLWDOLVLHUH VLH LQGHP LFK LPPHU ZLHGHU GHQ IU GLHVHQ )DOO DQ]XZHQGHQGHQ *RWWHVQDPHQ YLEULHUH ELV LFK GHQ (LQGUXFN JHZLQQH GD DOOH PHUNXULVFKHQ .UlIWH GHV JDQ]HQ 8QLYHUVXPV DXI GLH PDJQHWLVFKH $Q]LHKXQJ MHQHU 6SKlUH UHDJLHUHQ ,FK LPDJLQLHUH GD DOOH .UlIWH GHV8QLYHUVXPVLQPHLQHU$XUD]XVDPPHQVWUHEHQXQGJHQDXGLH
%FKHU 'RNXPHQWH .ULWLNHU )UHXQGH XVZDQ]LHKHQGLHLFKIU PHLQH $UEHLW EHQ|WLJH 1DFK HLQLJHU =HLW DXVGDXHUQGHU XQG NRQ ]HQWULHUWHU $UEHLW K|UH LFK YRQ )UHXQGHQ RGHU %XFKKlQGOHUQ VFKHLQEDU ]XIlOOLJ GD GLH JHVXFKWHQ %FKHU DXIJHWDXFKW VLQG ,FK OHUQH GLH ULFKWLJHQ /HXWH NHQQHQ XQG PHLQH $UEHLW ZLUG LP JURHQ XQG JDQ]HQ JHI|UGHUW'LHVH(UJHEQLVVHWUHWHQMHGRFKDXIY|OOLJ DOOWlJOLFKH:HLVH]XWDJH 0DQ VROOWH NHLQHVZHJV PHLQHQ GD GLH $QZHQGXQJ GLHVHU 0HWKRGHQ GHQ EHNDQQWHQ 1DWXUJHVHW]HQ ]XZLGHUOLHIH XQG GD LUJHQGZHOFKH ©:XQGHUª JHVFKHKHQ ZUGHQ :HLW JHIHKOW 1LFKWV GDUDQ LVW EHUQDWUOLFK 'LH 0HWKRGHQ EDVLHUHQ DXI GHU 1XW]XQJ SV\FKLVFKHU 3ULQ]LSLHQ GLH LQ MHGHP 0HQVFKHQ ODWHQW YRUKDQGHQ VLQG .HLQ 0HQVFK LVW LQ GLHVHU +LQVLFKW HLQ]LJDUWLJ 8QG GLH 1XW]XQJ MHQHU SV\FKLVFKHQ 3ULQ]LSLHQ IKUW GXUFK JDQ] QRUPDOH DEHUXQHUZDUWHWH.DQlOH]X(UJHEQLVVHQ 1HKPHQ ZLU HLQ DQGHUHV %HLVSLHO :HQQ LFK GLH +LOIH HLQHV .ROOHJHQ ZQVFKH GHU OLWHUDULVFKH $PELWLRQHQ KDW MHGRFK LU JHQGZDQQIHVWVWHOOHGDHUHLQHQKROSULJHQ6WLOKDWXQGGDGHU IUHLH )OX GHU ,GHHQ EHL LKP EHKLQGHUW LVW VR PX LFK PHLQH 0HWKRGH LQ HLQHP HLQ]LJHQ 3XQNW lQGHUQ 6WDWW ZLH ]XYRU GLH )DUEH 2UDQJH ]X YHUZHQGHQ PX LFK LQ GLHVHP )DOO GLH $XUD DOV YRQ JHOEHU RGHU JROGHQHU )DUEH YLVXDOLVLHUHQ GHU YLEULHUWH *RW WHVQDPH EOHLEW GHU JOHLFKH 8QG DQVWDWW ]X LPDJLQLHUHQ GD GLH XQLYHUVHOOHQ .UlIWH VLFK ]HQWULSHWDO DXI PHLQH 6SKlUH ]XEHZHJHQ VROOWH LFK YHUVXFKHQ ]X HUNHQQHQ GD GLH GXUFK GLH )DUEYLVXDOLVD WLRQ XQG GXUFK GLH 9LEUDWLRQ LQ PLU JHZHFNWHQ PHUNXULVFKHQ .UlIWHYRQPLUDXIPHLQHQ.ROOHJHQSURML]LHUWZHUGHQ:HQQDXFKHU LQGHUJOHLFKHQ6WXQGHUXKLJXQGPHGLWDWLYZLUGZLUGPHLQH+LOIH VWlUNHUGDHUPHLQH%HPKXQJHQGXUFKHLQHlKQOLFKH0HGLWDWLRQ EHZXW XQWHUVWW]W 'RFK GLHV LVW QLFKW XQEHGLQJW HUIRUGHUOLFK 'HQQ ZLH WHOHSDWKLVFKH ([SHULPHQWH JH]HLJW KDEHQ JHODQJW GHU JU|WH 7HLO GHU (LQGUFNH ]XP (PSIlQJHU RKQH GD GLHVHU HV EHZXW UHJLVWULHUW 'HVKDOE QLPPW GLH XQEHZXWH 3V\FKH GHV .ROOHJHQ PLW 6LFKHUKHLW GLH ,QVSLUDWLRQ XQG 0DFKW GLH LFK LKP WHOHSDWKLVFK LP =XVWDQG GHU $EZHVHQKHLW EHUPLWWHOW KDEH DXWRPDWLVFKDXI 'LHVHV 6\VWHP YHUELQGHW WHOHSDWKLVFKH 6XJJHVWLRQHQ PLW ZLO OHQWOLFKHU .RPPXQLNDWLRQ YRQ 9LWDONUDIW ,FK P|FKWH PLFK HQHU JLVFKJHJHQMHQH/HXWHYHUZDKUHQGLHIUGLHHLQH)lKLJNHLWDXI
.RVWHQ GHU DQGHUHQ HLQWUHWHQ (LQLJH OHXJQHQ GLH 6XJJHVWLRQ RGHU 7HOHSDWKLH XQG VLQG HQWKXVLDVWLVFKH 9HUIHFKWHU GHV 0DJQHWLVPXV GHU 9LWDONUDIW $QGHUH ZHLJHUQ VLFK NDWHJRULVFK GLH ([LVWHQ] GHV 0DJQHWLVPXV DQ]XHUNHQQHQ XQG DUJXPHQWLHUHQ DXVVFKOLHOLFK ]XJXQVWHQ GHU 7HOHSDWKLH XQG GHU 6XJJHVWLRQ 0HLQHV (UDFKWHQV VLQG EHLGH 6HLWHQ LP ,UUWXP XQG GRJPDWLVFK ZHQQ VLH DXI GHU DXVVFKOLHOLFKHQ 5LFKWLJNHLW LKUHU /LHEOLQJVWKHRULH EHKDUUHQ RGHU ZHQQ VLH EHKDXSWHQ GLHVH VHL GLH HLQ]LJ ORJLVFKH (UNOlUXQJV P|JOLFKNHLW %HLGH $QVlW]H VLQG LQ EHVWLPPWHU +LQVLFKW XQG LQ HLQHU EHVWLPPWHQ =DKO YRQ )lOOHQ ]XWUHIIHQG %HLGH KDEHQ LQ GHU QDWUOLFKHQ gNRQRPLH GHU 'LQJH LKUHQ 3ODW] 'LH 5HVVRXUFHQ GHU 1DWXU VLQG XQHUPHOLFK XQG ZHLWOlXILJ JHQXJ XP EHLGHQ .UlIWHQ VRZLH QRFK XQ]lKOLJHQ DQGHUHQ HLQH ([LVWHQ] 6HLWH DQ 6HLWH ]X HUP|JOLFKHQ 6HOEVWDQDO\VH
'HU WHFKQLVFKH 9RUJDQJ LVW ZLH LFK EHUHLWV JH]HLJW KDEH lXHUVW HLQIDFK VHOEVW ZHQQ PDQ LKQ ]X VXEMHNWLYHQ DXI GLH HLJHQH 3HUVRQ JHULFKWHWHQ =ZHFNHQ EHQXW]W $QJHQRPPHQ PLU NRPPW SO|W]OLFK GLH (UNHQQWQLV GD LFK QLFKW GHU JUR]JLJH 0HQVFK ELQ IU GHQ LFK PLFK LPPHU JHKDOWHQ KDEH VRQGHUQ GD LFK HKHU NQDXVHULJ XQG JHL]LJ ELQ 1DWUOLFK N|QQWH LFK GDUDXIKLQ HLQH 3V\FKRDQDO\VH EHJLQQHQ XP KHUDXV]XILQGHQ ZDUXP PHLQ &KD UDNWHU IUK LP /HEHQ GHUDUW QDFKWHLOLJ EHHLQIOXW ZXUGH GD GDUDXV GLH *HZRKQKHLW GHV .QDXVHUQV HQWVWDQGHQ LVW 'RFK GLHV ZlUH HLQH ODQJZLHULJH XQG NRVWVSLHOLJH $QJHOHJHQKHLW ZDV QD WUOLFK DQJHVLFKWV HLQHU 1RWZHQGLJNHLW VFKOHFKWH $UJXPHQWH VLQG 9LHO ZUGH YRP $QDO\WLNHU XQG YRQ VHLQHU %H]LHKXQJ ]X PLU DEKlQJHQ 6WDWW GHVVHQ N|QQWH LFK PLFK DXFK GHU IROJHQGHQ 7HFKQLNEHGLHQHQ'LHHUVWHQ6FKULWWHHQWVSUHFKHQGHQZHLWHUREHQ EHVFKULHEHQHQ UK\WKPLVFKHV $WPHQ 9LVXDOLVLHUHQ GHV /LFKWVWUDKOV GHU YRP .RSI ELV ]X GHQ )HQ YHUOlXIW XQG VFKOLHOLFK =LUNXODWLRQ GHU .UDIW GXUFK GLH $XUD 'D HLQH JUR ]JLJH (LQVWHOOXQJ GHP /HEHQ JHJHQEHU HLQH GHP -XSLWHU ]XJH RUGQHWH (LJHQVFKDIW LVW ZUGH LFK PLFK DQVFKOLHHQG PLW HLQHU KLPPHOEODXHQ 6SKlUH XPJHEHQ XQG XQWHUGHVVHQ XQXQWHUEURFKHQ XQGPLWDOOHUPLUYHUIJEDUHQ.UDIWGHQ*RWWHVQDPHQ(OYLEULHUHQ
(V NlPH JDQ] GDUDXI DQ ZLH YHUWUDXW LFK PLW GHP 6\VWHP ZlUH RE LFK GHQ 1DPHQ VWLOO RGHU K|UEDU YLEULHUH GRFK LQ MHGHP )DOO ZHUGHQ GDUDXIKLQ PlFKWLJH MXSLWHULVFKH 6WU|PH PHLQ 6HLQ GXUFKGULQJHQ ,FK ZUGH VRJDU YLVXDOLVLHUHQ GD MHGH =HOOH LQ HLQHP 2]HDQ YRQ %ODX JHEDGHW ZLUG XQG LFK ZUGH YHUVXFKHQ PLU YRU]XVWHOOHQ GD DXV MHGHU 5LFKWXQJ 6WU|PH PHLQH 6SKlUH GXUFKGULQJHQ VR GD DOO PHLQ 'HQNHQ XQG )KOHQ EXFKVWlEOLFK EODX JHIlUEW LVW$OOPlKOLFK NRPPW HV GDUDXIKLQ ]X HLQHU VXEWLOHQ 7UDQVIRUPDWLRQ RGHU YLHOPHKU (V ZUGH ]X HLQHU VROFKHQ 7UDQVIRUPDWLRQ NRPPHQ ZHQQ LFK ZLUNOLFK DXIULFKWLJ PHLQH 6FKZlFKHQ EHVHLWLJHQ ZROOWH XQG ZHQQ LFK PLU VR LQWHQVLY ZQVFKHQ ZUGH JUR]JLJ ]X VHLQ GDLFKGLHhEXQJJHZLVVHQKDIWXQGRIWJHQXJZLHGHUKROHQZUGH :HQQ HLQ )UHXQG RGHU 3DWLHQW VLFK EHU HLQH lKQOLFKH 8QWXJHQG EHNODJHQ XQG PLFK XP $EKLOIH ELWWHQ ZUGH VR ZUGH LFK HLQH SRVLWLYH )DUEH ]XU 3URMHNWLRQ YHUZHQGHQ ,FK ZUGH PHLQH 6SKlUH DOV DNWLYH G\QDPLVFKH SXUSXUIDUEHQH 6SKlUH YLVXDOLVLHUHQ UHLFK XQG N|QLJOLFK LQ GHU )DUEH XQG LKUHQ JUR]JLJHQ KHLOHQGHQ XQG IUXFKWEDUHQ (LQIOX DXI VHLQHQ *HLVW XQG VHLQH 3HUV|QOLFKNHLW SURML]LHUHQ ,P /DXIH GHU =HLW ZUGH VHLQH 8QWXJHQG ]X VHLQHU =XIULHGHQKHLW YHUlQGHUW XQG GDGXUFK ZLHGHUXP ZUGH VHLQH VSLULWXHOOH1DWXUJHVWlUNW bKQOLFK LVW GDV 9HUIDKUHQ DXFK LQ DOOHQ DQGHUHQ )lOOHQ 'LHVH ZHQLJHQ %HLVSLHOH KDEHQ GHP /HVHU VLFKHUOLFK JH]HLJW ZLH PDQ GLHVH0HWKRGHQSUDNWLVFKDQZHQGHW
(V JHQJW QLFKW EHVWLPPWH (UJHEQLVVH ]X ZQVFKHQ XQG GDQQ PLJ GDUDXI ]X ZDUWHQ GD VLH HLQWUHWHQ 'LHV NDQQ QXU ]X )HKOVFKOlJHQ IKUHQ $OOHV ZDV ZHUWYROO LVW XQG PLW KRKHU :DKUVFKHLQOLFKNHLW ]XP (UIROJ IKUHQ VROO HUIRUGHUW KDUWH $UEHLW XQG%HKDUUOLFKNHLW 'LHhEXQJGHU0LWWOHUHQ6lXOHLVWGDVLFKHUOLFK NHLQH $XVQDKPH 'RFK LVW +LQJDEH LQ GLHVHP )DOO ZHJHQ GHU $UW XQG 4XDOLWlW GHU (UJHEQLVVH EHVRQGHUV ORKQHQG (LQPDO WlJOLFK JHEW ZLUG GLH :LUNVDPNHLW GHU 0HWKRGH HUNHQQEDU =ZHLPDO WlJOLFKH $QZHQGXQJLVWZHVHQWOLFK ZLUNVDPHU EHVRQGHUVZHQQHV GDUXP JHKW HLQH N|USHUOLFKH .UDQNKHLW RGHU HLQ SV\FKLVFKHV 3UREOHP ]X EHUZLQGHQ 1DFK HLQLJHU =HLW ZLUG GHU HUQVWKDIWH 6WXGHQW GHVVHQ VSLULWXHOOH 1DWXU VLFK DOOPlKOLFK HQWIDOWHW GLH hEXQJ JDQ] XQDEKlQJLJ YRQ GHQ 9HUVSUHFKXQJHQ GLH LFK KLHU JHPDFKWKDEHSUDNWL]LHUHQ+HLONUlIWH)UHLKHLWYRQ$UPXWXQG
6RUJHQ*OFN DOOGLHVLVWlXHUVWZQVFKHQVZHUW'RFKZLFKWLJHU LVW HV GDV VSLULWXHOOH 6HOEVW ]X NHQQHQ XQG LKP ]XP $XVGUXFN ]X YHUKHOIHQ (V NDQQ DOOHUGLQJV VHLQ GD GLHVHV ,GHDO LQ PDQFKHQ )lOOHQ NDXP HUUHLFKEDU LVW VRODQJH QLFKW HLQ JHZLVVHV 0D DQ (UIOOXQJ LQ DQGHUHU +LQVLFKW XQG DXI DQGHUHQ (EHQHQ GHU ([LVWHQ] HUUHLFKW ZRUGHQ LVW ,VW GDV ,GHDO MHGRFK DOV ZQVFKHQVZHUW HU NDQQWVRZLUGPDQEHJUHLIHQGDGLHhEXQJGHU0LWWOHUHQ6lXOH DXFKGLHVHP=LHOLQK|FKVWHP0DHI|UGHUOLFKLVW